BERLIN – Volkswagen CEO Martin Winterkorn will remain in his job and can look forward to having his contract extended, the leadership of the board said Friday, after a comment by chairman Ferdinand Piech raised widespread doubts about his future.
A turbulent week for Europe’s biggest automaker started when Piech, who has long been the company’s key power broker, was quoted last Friday as telling Der Spiegel magazine he was “at a distance from Winterkorn.”
That surprised observers and prompted fevered speculation about the position of Winterkorn, 67, Volkswagen’s CEO since 2007. Winterkorn’s contract runs until the end of next year.
Winterkorn “is the best possible” chief executive for Volkswagen, Friday’s statement from the six-strong executive committee of Volkswagen’s 20-member supervisory board said. Piech is part of the committee.
It added that the body “places great importance on the fact” that Winterkorn “will pursue his role with the same vigor and success as before, and that he has the full support of the committee in doing so.”