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BREAKING NEWS: Volkswagen CEO to step down

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Volkswagen CEO stepping down

By STEPHEN GRAHAM

BERLIN - Volkswagen AG, Europe's biggest car maker, said Tuesday that Bernd Pischetsrieder will step down as chief executive after four years and be replaced by Martin Winterkorn, head of the company's premium Audi unit.

Pischetsrieder, who got a five-year contract extension in May, leaves with the company profitable but in the midst of a painful cost-cutting program.

Volkswagen said the executive committee of its board of directors recommended Winterkorn take over on Jan. 1. The full board will decide on the move at a meeting on Nov. 17, it said in a statement.

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Edited by Cadillacfan

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Very odd.

But, with Dr. Martin Winterkorn in charge, he may get his wish regarding Audi cars. I hear that he wanted to make Audis rear-drive, but lost the debate to VW honcho Bernd Pischetsrieder.

Well, I guess this will quell any rumours about the liberating of Audi AG from the state-owned behemoth known as Volkswagen AG. A magazine known as Audi Driver gave some very good points that, with Winterkorn still in charge, Audi could make even better cars even more profitably without the shackles of VW.

Think about it.

Sure, VW owns virtually all of Audi AG, but there is a small portion that is not, and, it was the purchase of Audi that yanked Volkswagen into the modern era of watercooled engines and engineering.

I feel it could be possible.

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The waters were muddied when some dumkopf (sp?) decided to move VW upmarket. VW needs to be mass market, Audi at the luxury level, and Porsche at the pure luxury sports car level. As it is, VW crowds Audi at the low end. Unforgivable.

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We do know who we can blame for both the crowding of Audi by VW and this Porsche takeover issue, don't we?

That's right- Dr. Piech!!!

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