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IG Metall says no reason to undermine VW Chairman Piech

April 19, 2015 at 07:03 am EDT

BERLIN (Reuters) - IG Metall union said on Sunday there is no reason to undermine Volkswagen (>> Volkswagen AG) Chairman Ferdinand Piech after the row over the carmaker's leadership.

Berthold Huber, prominent member of the union and also deputy chairman of VW's supervisory board, said it's important to have two strong personalities at the top of Europe's largest automotive group.

"We are determined with (Chairman) Piech and (Chief Executive Martin) Winterkorn to continue the successful path of VW also in future," Huber said in a statement.

Senior supervisory board members were ready to demand Piech's resignation at a meeting on April 16 had he not agreed to a statement backing Winterkorn, Frankfurter Allgemeine Sonntagszeitung reported on Saturday.

(Reporting by Andreas Cremer; Editing by Kirsti Knolle)

Stocks treated in this article : Volkswagen AG, Porsche Automobil Holding SE

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
VOLKSWAGEN AG	122.5 EUR	-0.67%	-2.22%	72.72B
EON SE	12.26 EUR	-0.69%	-0.64%	34.29B
PORSCHE AUTOMOBIL HOLDING SE	49.96 EUR	-1.20%	-1.63%	16.46B
PORSCHE AG	91.27 EUR	-1.09%	-2.83%	90.22B

Ferdinand Karl Piëch

Ferdinand Karl Piëch served as Chairman-Supervisory Board at Volkswagen AG from 2002 to 2015.
He also held the same position at MAN SE and was a Director at Ducati Motor Holding SpA.
Piëch was a Director-Supervisory Board at AUDI AG, Porsche Holding GmbH, Porsche AG, and Porsche Retail GmbH.
He was also a Director at alphaEOS AG and a Member-Supervisory Board at Scania AB, Porsche Automobil Holding SE, Porsche Austria GmbH & Co. OG, Scania CV AB, Porsche Austria GmbH, Porsche Piech Holding AG, and Porsche Holding Stuttgart GmbH.
Piëch graduated from the Swiss Federal Institute of Technology.

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