Piech stopped Winterkorn becoming VW chairman - media FRANKFURT, Sept 5- Ousted Volkswagen chairman Ferdinand Piech prevented Chief Executive Martin Winterkorn from fulfilling his ambition to become chairman, showing the patriarch's continuing influence behind the scenes, two respected German publications reported. Weekly magazine Spiegel and the Frankfurter Allgemeine Sonntagszeitung said the...
NEWSMAKER-VW's unassuming CFO emerges from boardroom wars as chairman FRANKFURT, Sept 3- Austrian Hans Dieter Poetsch, Volkswagen AG's finance chief faces a massive task in his future role as chairman- to maintain the support of the often divided stakeholders who have chosen to back him while improving the carmaker's profitability. Although Volkswagen Group has grown to become the world's largest carmaker it has proven to be one...
| By: Edward Taylor and Georgina Prodhan
Volkswagen finance chief Poetsch set to become new chairman BERLIN- Volkswagen says its chief financial officer, Hans Dieter Poetsch, is set to become its new chairman- filling the position that longtime company patriarch Ferdinand Piech vacated in April. Berthold Huber, the acting chairman and previously Piech's deputy, praised Poetsch's "strategic vision, comprehensive knowledge of the automotive industry and...
Source: The Associated Press
UPDATE 2-VW's finance chief set to become new chairman BERLIN, Sept 3- Volkswagen's finance chief Hans Dieter Poetsch is set to become its next chairman, putting Europe's biggest carmaker on course for calmer waters after rival factions including ousted patriarch Ferdinand Piech united to back him. The company has been looking for a permanent successor to Piech, who was turfed out in April after clashing with...
| By: Andreas Cremer
DIARY- Top Economic Events to Sept 15 PARIS- French Finance Minister Michel Sapin holds a press conference- 0500 GMT. AOMORI, Japan- Bank of Japan board member Takahide Kiuchi speaks in Aomori- 0130 GMT. MISSOULA, United States- Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks before a Town Hall open forum- 0100 GMT.
China bull holds strong Asian markets push lower again amid worries about China's slowing economy. GGV Capital's Hans Tung, an early investor in Xiaomi, remains bullish on China.
UPDATE 2-VW's CEO Martin Winterkorn set to stay on for three more years *VW proposes extending CEO contract until 2018. FRANKFURT, Sept 2- The executive committee of Volkswagen's supervisory board has proposed extending Martin Winterkorn's contract as chief executive until the end of 2018, the company said on Tuesday, opening the door to the appointment of an outsider as chairman. Volkswagen is still looking for a permanent...
Is Europe's migrant crisis getting out of hand? Death and desperation mounted in Europe's migrant crisis Friday as Austrian police said 71 people appeared to have suffocated in the back of an abandoned truck, while an estimated 200 people were feared drowned off Libya when two overloaded boats capsized.
Source: The Associated Press