VW CEO steps down, Audi exec steps up

Volkswagen's CEO, Bernd Pischetsrieder will resign by the end of the year to make room for Audi's head, Martin Winterkorn. The move came as a surprise, as VW's board voted to extend Pischetsrieder's contract through 2012.
The soon-to-be-former CEO has been with VW since 2000, succeeding Ferdinand Piech who stepped down in 2002. Supposedly, Pischetsrieder will be taking on "special assignments" after his departure.

We're unsure about why this move is taking place, so we'll be scouring the web for rumors and conjecture in the meantime.

[Source: Automotive News – Sub. Req.]

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