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Volkswagen boss ousted

Volkswagen boss ousted

Bernd Pischetsrieder, in charge from the Volkswagen Group, continues to be ousted in the top job only several weeks after his contract have been extended to 2012.

Martin Winterkorn, presently the ambitious boss from the Audi division, will replace Pischetsrieder as ceo.

The surprise announcement came late on 7 November, revealing that 58-year-old Pischetsrieder will step lower on 31 December.

He’d been involved this season within the tricky task of slashing many 1000’s of jobs, in addition to negotiating with trade unions to increase the significant week, which, for many employees, had dipped underneath the 30-hour mark.

There was whispers earlier around of the fall-out between Pischetsrieder and Ferdinand Piech, his predecessor and today chairman from the VW supervisory board.

Ironically, VW share cost has soared this season on the rear of confidence about his re-structuring plans.

Piech had also performed a component in the family company Porsche purchasing a substantial be part of Volkswagen.

City reviews claim that Porsche will make an effort to have a 29.9 percent be part of company, the greatest stake permitted without Porsche being legally forced right into a takeover bid.

It is possible these moves, combined with the growing influence of Porsche boss Wendelin Wiedeking, have caused this unpredicted spilt.

 

 

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