Volkswagen exec booted after trying to push out CEO, reports say

April 25, 2015 11:02 PM

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"The mutual trust necessary for successful cooperation was no longer there," Volkswagen said in a statement Saturday.

Volkswagen announced Piëch's departure about a week after it renewed the contract of CEO Martin Winterkorn. The 78-year-old Austrian executive has served in the role for 13 years.

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