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VW Chairman Piech isolated on board's steering committee: sources

April 17, 2015 at 07:06 am EDT

BERLIN/HAMBURG (Reuters) - Volkswagen Chairman Ferdinand Piech was isolated on the supervisory board's steering committee which on Friday backed Martin Winterkorn as the carmaker's chief executive, two sources told Reuters.

A top level VW committee met in Salzburg on Thursday to try to resolve a leadership crisis that has emerged after Piech publicly withdrew his confidence in Winterkorn, casting doubts about the CEO's future.

Piech was outnumbered 5:1 on the six-member supervisory board steering committee, the sources said, declining to be named because the matter is confidential.

VW said the panel would propose extending Winterkorn's contract at a board meeting next February.

(Reporting by Andreas Cremer and Jan Schwartz; editing by Thomas Atkins)

By Andreas Cremer and Jan Schwartz

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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