VW rift creates vacuum that puts Porsche CEO in play for top job

April 14, 2015 3:21 PM

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MUNICH — A rift between Volkswagen's two most senior executives threatens to create a power vacuum, hastening the search for a new leader who has the backing of the controlling families, key shareholders and labor unions.

Chief Executive Officer Martin Winterkorn suffered a public dressing-down by Chairman Ferdinand Piech, who told Der Spiegel magazine on Friday that he had distanced himself from his former confidant and no longer wants him as the next chairman. Piech didn't say why he'd lost faith in Winterkorn.

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