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VW boss Winterkorn extended: Martin Winterkorn stays until 2016

VW boss Winterkorn extends
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D he Volkswagen AG did not want to comment on the 'Spiegel' report on Saturday (November 27th). The VW works council chief Bernd Osterloh, who had previously spoken out in favor of a contract extension for Winterkorn, did not want to comment on the dpa request.

Decision should be made in January

That Winterkorn remains at the top of the VW group beyond the normal retirement age has long been considered a foregone conclusion. In October, Piëch was quoted as saying that he used to retire his managers when he was 65, but now he is smarter.

What is new is that Winterkorn's contract will be extended to five years or more his 69th birthday is to be extended. So far there has only been talk of three or four years. According to dpa information from supervisory board circles, the supervisory body is expected to decide on the personnel in January.

The 63-year-old Winterkorn has been VW boss since the beginning of 2007 and previously directed the VW subsidiary Audi. He not only has the workforce and IG Metall behind him, but is also a close confidante of the powerful chairman of the supervisory board and former VW boss Ferdinand Piëch.

Winterkorn and Piëch have ambitious plans for the world's third largest car manufacturer. The integration of the sports car manufacturer Porsche into the group is to be achieved by 2011. New factories are also planned in China, the United States and India. In addition, VW aims to be among the world's best by 2018 at the latest. To do this, the Wolfsburg-based company has to overtake the recently ailing Japanese automaker Toyota and the US auto giant General Motors, which recently launched on the stock exchange - a 'feat of strength' and 'not a sure-fire success', according to Winterkorn


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