FRANKFURT (Reuters) - Volkswagen's (GER:VOW3) chairman Ferdinand Piech will likely step down from his post within the next few months, German business newspaper Handelsblatt said on Friday.
According to internal company plans, Piech's favourite candidate to succeed him is Volkswagen's current chief executive, Martin Winterkorn, whose contract as CEO runs until the end of 2016, Handelsblatt said.
A company spokeswoman declined to comment on whether Piech, aged 76, is about to retire but did say Winterkorn is set to remain as chief executive.
"Martin Winterkorn will remain chief executive for a long time which means any further speculation is superfluous," she told Reuters.
(Reporting by Christoph Steitz; Editing by Greg Mahlich)
- Board & Management Changes
- Budget, Tax & Economy
- Ferdinand Piech
- Martin Winterkorn