Post by VWCA_Adman on May 1, 2015 19:06:07 GMT -6
VW Chairman Ferdinand Piech
HBO isn't the only place to view battles over who rules the roost. Check out VW's topsy turvy top-dog tussle. Reuters reports that the two-decade rule of VW board chairman Ferdinand Piech, the grandson of the famous Beetle creator, ended in resignation March 25, 2015. The former engineer who made the New Beetle a priority and expanded the VW’s empire reneged on a deal to support VW CEO Martin Winterkorn.
Even though Piech publicly backed down from his statement that distanced himself from his heir apparent Winterkorn, which initiated an institutional drama over VW’s leadership, Piech tried to convince fellow family members on VW’s advisory board to replace Winterkorn.
Piech’s behind-the-scenes machinations led fellow board members to issue an ultimatum: resign or get the boot. Piech and his wife, Ursla, quit.
Experts say Piech’s ouster could signal a big change in VW, an opportunity to ditch its “Piech empire” stranglehold toward one that taps the firm’s considerable potential.