Reports by German newspaper Handelsblatt claimed that sources close to Volkswagen's chairman and former CEO Ferdinand Piëch have said that the 76-year-old chairman will step down amidst health problems, but VW is denying the reports, according to Reuters.

A VW spokeswoman said, "Dr. Piëch is in the best of health and will remain supervisory board chairman of Volkswagen for a long time."

Handelsblatt also wrote that Piëch wanted CEO Martin Winterkorn to take over as chairman, and that finance chief Hans Dieter Poetsch also might be considered for the position.

Whether there is truth to the Handelsblatt report or if it's all speculation; right now VW is more concerned about the Frankfurt Motor Show that starts next week. It is possible that we'll find out more about the chairman's status when the supervisory board meets at the end of the month.

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