Another VW Chief Set to Quit

17 November 2006

WOLFSBURG, Germany: Volkswagen is facing the departure of another senior figure, just days after the ousting of ceo Bernd Pischetsrieder [WARC News: 08-Nov-06]. Europe's biggest carmaker is now expected to accept the proffered resignation of Wolfgang Bernhard, head of the VW brand.

He was passed over by the board for the ceo's job in favour of Martin Winterkorn, head of VW's Audi luxury brand. The resignation follows Porsche's move to increase its stake in VW to just below a 30% takeover threshold.

VW's chairman Ferdinand Piëch, a member of the Porsche-Piëch family, is also a part-owner of the sports carmaker.

Data sourced from Financial Times online; additional content by WARC staff