Volkswagen’s Board has publicly backed CEO Martin Winterkorn, despite intense speculation of a major dispute between the chief and top executives.
Reports in Germany suggest there may have been a confrontation at last week’s Volkswagen Board meeting, but the manufacturer has moved swiftly to counter any such rumour.
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“The executive committee of the Supervisory Board of Volkswagen states Dr Martin Winterkorn is the best possible chairman of the Board of Management,” said a Volkswagen statement.
“The executive committee places great importance on the fact Dr Winterkorn will pursue his role as chairman of the Board of Management with the same vigour and success as before and that he has the full support of the Committee in doing so.
“The executive committee will now propose to the Supervisory Board to extend Dr. Winterkorn’s current contract in the Supervisory Board meeting of February, 2016.”
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By GlobalData
