Volkswagen is Europe’s largest automobile company, thanks primarily to the work of two men. Ferdinand Piech and Martin Winterkorn. Piech hired Winterkorn as one of VW’s high flyers in 2007, and since then its shares have more than tripled in value. But now it seems Piech has declared publicly that he has lost confidence in his top man.
Ferdinand Piech is the Chairman of the Supervisory Board at the VW group, as well as the co-owner of Volkswagen and the heir of legendary car designer Ferdinand Porsche. Martin Winterkorn is the Chairman of the Board of Management at VW, and one of the best paid managers in Germany. Now it seems Piech has declared publicly that he has lost confidence in his top man.