The power struggle at Volkswagen escalated over the weekend, as a rift emerged between the Porsche and Piëch families that control the carmaker and its chief executive signalled he does not intend to surrender his position.
A full-blown leadership crisis was triggered on Friday, when VW’s chairman and patriarch Ferdinand Piëch revealed that his working relationship with long-serving chief executive Martin Winterkorn, was strained.
Mr Piëch’s goal in speaking out remains unclear. But in one sentence in an interview — “I am at a distance to Winterkorn” — he appeared to undermine Mr Winterkorn, casting doubt on his top lieutenant’s future and obliging key shareholders and employee representatives to pick sides.
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