Winterkorn to remain VW CEO till 2016

[footie]

VW extends CEO Martin Winterkorn's contract into 2016​

http://www.worldcarfans.com/1110103...in-winterkorns-contract-into-2016/lowphotos#0
VW CEO Martin Winterkorn 03.01.2011​

Martin Winterkorn is charged with heading the German automaker's strategic plans to be the world's largest automaker by 2018​

By Alex Ricciuti
January 3, 2011 12:00 pm ​

German automaker Volkswagen AG has extended CEO Martin Winterkorn's contract for another five years.​

Winterkorn's current contract was to have ended on December 31st, 2011. It is now extended until the end of 2016.
The move, and announcing it so early in the year, signals a vote of confidence in Winterkorn's leadership of the VW Group. Winterkorn, 63, is charged with executing Volkswagen's current strategic plan to become the world's top automaker in volume sales by 2018 and toppling Toyota from that global mantle.
But VW also wants to beat Toyota in terms of profitability and is doubling capacity in China to 3 million units a year with two new plants there as well as opening another in Tennessee in order to increase both sales and margins in the North American market.
VW sold more than 7 million units globally for the first time in 2010. It's goal is to sell more than 10 million vehicles a year by 2018.​

 

[Centurion]

This is one of the smartest guys in the room, and if VW wouldn't have extended his contract he would swiftly been snatched up by the Fiat Group or more probably, Kia. With Wendelin Wiedeking in exodus, Winterkorn is one of key brains VW will need if they are to take the crown from Toyota by 2018. I have no doubts that they will reach this objective.

 

[footie]

This is one of the smartest guys in the room, and if VW wouldn't have extended his contract he would swiftly been snatched up by the Fiat Group or more probably, Kia. With Wendelin Wiedeking in exodus, Winterkorn is one of key brains VW will need if they are to take the crown from Toyota by 2018. I have no doubts that they will reach this objective.

If not the smartest in the industry.