WOLFSBURG (dpa-AFX) - European car giant Volkswagen AG (VKW.L, VLKAF.PK, VOW.BE) said Saturday that its Chairman of the Supervisory Board, Ferdinand Piech, has resigned from his position as Chairman and member of the Supervisory Board, as well as all other mandates within the Volkswagen Group with immediate effect.
In addition, Mr. Piech's wife Ursula has resigned from all mandates within the Volkswagen Group.
Meanwhile, the company stated that the deputy Chairman of the Supervisory Board, Berthold Huber, will temporarily assume leadership of the Board until the election of a new Chairman.
The resignation follows two weeks of turmoil at Europe's biggest carmaker, after the Chief Executive Officer Martin Winterkorn's future was called into question when Piech told Spiegel on April 10 that he had distanced himself from his former confidant and no longer wanted him as the next chairman.
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