Volkswagen In Crisis After Leadership Dispute

Volkswagen has plunged into a full-blown leadership crisis after Chief Executive Martin Winterkorn let it be known on Saturday he will fight for his job even though the carmaker's chairman has reportedly withdrawn confidence in the CEO.

Ferdinand Piech, who has spent almost 22 years at the helm of VW, nine as CEO, said he has "distanced" himself from Winterkorn, Der Spiegel reported on Friday, exposing unusual dissent between VW's two top leaders.

Piech's remark is viewed by analysts as undermining the CEO's prospects of renewing his contract, due to expire in December 2016 and to become chairman himself when Piech retires.

Read Article

ParadoX - 4/16/2015 5:03:40 PM

+1 Boost

VW will be fine. It is not as if they are on the brink of collapse as a company. Shareholders might just have to suffer a few bad quarters.

carsnyc - 4/16/2015 9:04:53 PM

+1 Boost

I wouldn't be so sure given how bad things are looking in the U.S. Does anybody know what percentage is the U.S in VW's sales?

MDarringer - 4/16/2015 10:02:40 PM

0 Boost

Bottom line: VWAG is facing implosion because of Piech's idiocy--syphalitic insanity?--and Piech being the predatory narcissist he is cannot admit his defeat.

I am praying for a VW crisis. It's a good company weighed down by idiotic leadership that is ok with class trailing designs.

MDarringer - 4/16/2015 10:04:40 PM

+1 Boost

@ParadoX it most decidedly IS headed for a collapse. They are trying to overtake Toyota at all cost, but VW's profit per car is a fraction of Toyota's profit. Moreover, Toyota has far better quality, reliability, and durability. This is a well-deserved crisis that needs to take Piech out.