Friday, November 10, 2006
VW boss steps down
Volkswagen chief executive Bernd Pischetsrieder is to step down from his post at the end of the year.
Martin Winterkorn, head of the firm's Audi unit, will take over the post.
Pischetsrieder's shock decision to resign comes as Europe's biggest carmaker is undergoing a tough restructuring drive that involves 20,000 job losses.
VW gave no reason for Pischetsrieder’s decision to quit, but said the it would be effective from 31 December.
DATED: 10.11.06
FEED: MT
Martin Winterkorn, head of the firm's Audi unit, will take over the post.
Pischetsrieder's shock decision to resign comes as Europe's biggest carmaker is undergoing a tough restructuring drive that involves 20,000 job losses.
VW gave no reason for Pischetsrieder’s decision to quit, but said the it would be effective from 31 December.
DATED: 10.11.06
FEED: MT
