Piech is back (kinda) at VW
Piëch's continued sway has come in part because two people close to him have started running the company. His resignation reportedly came because Piëch was supporting Matthias Müller as next group CEO, rather than Martin Winterkorn. Now, Müller has achieved exactly that role. In addition, Hans Dieter Pötsch has taken over as supervisory board chairman. He's also the chief financial officer at Porsche SE, the family holding company that controls a vast swath of VW stock. "The Porsche-Piëch family will exert more influence over the company in the future," an anonymous person close to the board said to The Wall Street Journal.
Piëch appears fully aware of his changing fortunes within the company, too. According to the WSJ, he and his wife Ursula arrived at the VW factory's main gates in a red Bentley the day after WInterkorn's resignation. If you find all of these corporate machinations fascinating, then the piece is well worth a read.
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