The bad drama at VWDavid Welch
Whenever a company’s board gives the top executive a vote of approval, look out. He’s sure to be packing his bags. Witness Volkswagen AG. The company’s supervisory board had just given CEO Berndt Pischetsrieder a five-year extension in May. And today he quit. He’ll leave the company at the end of the year with his likely replacement being Audi boss Martin Winterkorn.
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