Power Play at VW
Even for Volkswagen, a company accustomed to high-stakes management intrigue and boardroom drama, it has been a wild month. On Nov. 7, Chief Executive Bernhard Pischetsrieder stepped down after an unexpected no-confidence vote by VW's board. On the same day, rumors started swirling that VW brand chief Wolfgang Bernhard, who has been at the center of the automaker's efforts to restructure, would soon follow Pischetsrieder out the door. Then on Nov. 15, Porsche (PSEPF) upped its holdings in VW from 21% to 27%, fueling speculation that the giant carmaker might be taken over by the smallest player in Europe's auto industry.
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