Following Monday's abortive attempt by some board members to oust chairman Ferdinand Piech, Volkswagen moved today to reassure analysts that it remains completely independent from Porsche, its newest and largest shareholder.
CEO Bernd Pischetsrieder (pictured) stated that VW reserves the right to enter into partnerships with other carmakers, such as DaimlerChrysler, and that the agreement with Porsche will not lead to cancellation of projects that compete with Porsche, including the planned Audi Le Mans sports car.

Pischetsrieder also said that a new, independent subcommittee would be created to ensure that the VW board, which now includes Porsche representatives, continues to follow VW corporate governance standards.

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