Friday, 2 June 2017

VW Ousts Chairman Piech

Ferdinand Piech ran the VW empire with an iron fist. He seemed to get what he wanted and VW were doing well, so who would challenge someone who presided over such a successful empire?

His style wan't to everyone's liking. It was his way or the highway. It seems he decided that VW CEO Martin Winterkorn needed replacing and starting lobbying behind the scenes to achieve that. That was too much for shareholders who decided maybe it was time for the 78 year old Piech to step aside. Thye have got their way and his autocratic reign is over.

So what will this mean for the VW group? That depends on how things are handled. A new chairman with good vision and people skills could release a vibrant and successful company. Of it could lose direction and meander without clear focus. Time will tell.

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