Volkswagen’s supervisory board has proposed extending Martin Winterkorn’s term as chief executive officer until the end of 2018.
With Winterkorn locked in to the CEO position, analysts are hoping this means Volkswagen will be looking externally for a new chairman. The prior holder of the position, Ferdinand Piech, was known for maintaining the balance of power between worker representatives and shareholders. He had to leave following repeated clashes with Winterkorn…
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