VW Accepts Hartz′s Resignation | Business| Economy and finance news from a German perspective | DW | 13.07.2005
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VW Accepts Hartz's Resignation

Volkswagen has accepted the resignation of its high-profile human resources director, Peter Hartz, against a background of corruption allegations, the head of the regional government of Lower Saxony, Christian Wulff, said on Wednesday. The head of the Volkswagen group, Bernd Pischetsrieder, is to take over human resources responsibilities temporarily, he said. Wulff made his remarks at the end of a meeting of the four-member inner council of the VW supervisory board. Hartz had offered his resignation on Friday after being mentioned in German press reports in connection with alleged corruption at the company. His name is associated with landmark labor agreements in the company, notably over a four-day work week in 1993 which saved nearly 30,000 jobs. Some analysts have suggested that his departure might open the way for the group to introduce tough cost-cutting measures. A source close to the matter said that VW was eyeing savings of some 10 billion euros ($12.2 billion) over the next three years.

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