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Volkswagen issued a statement on Friday denying patriarch Ferdinand Piech would resign as head of the carmaker’s supervisory board.
Piech “is in excellent health and will remain Chairman of the Supervisory Board of Volkswagen AG for a long time to come,” the statement said.
Earlier on Friday, business daily Handelsblatt reported that Piech would leave his post “for health reasons” in the coming months and that a successor had already been chosen.
Speaking to Der Spiegel magazine, Piech “angrily” rejected the report.
“I am looking forward to the company evening ahead of the Frankfurt Motor Show next Monday, in which I will also take part in future as chairman,” he said.
Piech, who is credited with turning VW into the world’s second-biggest auto manufacturer after he became CEO in 1993, has traditionally made an appearance at the media reception before the world’s largest car show.
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