VW May Back Third Term for Piech With No Heir Apparent in Sight

Ferdinand Piech, the mastermind of Volkswagen AG’s strategy to become the world’s biggest automaker, has the support of the German company’s supervisory board for a third term as chairman, according to two people with direct knowledge of the situation.

Piech, who thwarted efforts by Porsche SE to take control of VW in 2009, has the backing of the majority of the 20-member body for another five-year term, said the people on condition they not be identified because board discussions are private. The support eases concern of a leadership gap at the Wolfsburg-based automaker with less than six months left in Piech’s current term and no clear succession plan in place.