Piech resigns as VW chairman after failing to oust CEO

A panel of senior supervisory board members at Volkswagen said a loss of trust was to blame for Piech's sudden departure on Saturday.

April 25, 2015 05:00 AM

FRANKFURT (Reuters) -- Volkswagen Group Supervisory Board Chairman Ferdinand Piech unexpectedly resigned on Saturday after losing a showdown he provoked with CEO Martin Winterkorn.

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