VW Chairman Piech Hints at Larger Role

Washington DC January 9, 2007; The AIADA newsletter reported that despite investor calls for him to step down, Volkswagen AG's Chairman Ferdinand Piëch is dropping hints that he plans to be a major force at Europe's largest automaker, reports The Wall Street Journal.

Mr. Piëch's seat on the company's board is due to expire in April. When asked whether he planned to relinquish his chairmanship, he replied, "It's too early" and declined to comment further.

Meanwhile, VW's top labor leader, Bernd Osterloh, on Saturday told reporters that he and other employee representatives on Volkswagen's supervisory board would vote to keep Mr. Piëch as chairman should he win another term as one of the board's shareholder representatives.

Mr. Piëch's influence in the company has risen as his family business, Porsche AG, has increased its stake in Volkswagen.

The company is scheduled to hold an administrative meeting tomorrow, which is likely to decide the fate of VW brand head Wolfgang Bernhard, whose future at the company has been thrown into question.