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Volkswagen continues hunt for new chairman

Volkswagen is going to need a new chairman. And the question is not only who that will be, but when he or she will be selected. The German automaker held its Annual General Meeting in Hannover yesterday, the first in a baker's dozen years without Ferdinand Piech presiding as chairman. The gavel was wielded instead by Berthold Huber, a labor representative on the board who was named as interim chair. Piech was ousted along with his wife Ursula (who also sat on the board) after a failed attempt to push out Martin Winterkorn as CEO. According to Winterkorn, in speaking with Reuters in an article published by Automotive News, the industrial giant is working hard at finding a new chairman in short order. "The executive committee and the supervisory board are working hard to swiftly resolve the remaining issues with regard to the composition of the supervisory bodies in the best possible manner," Winterkorn said. The publication's German counterpart, however, paints a different picture. Speaking with Stephan Weil, the president of Lower Saxony who sits on the board as a shareholder representative, Automobilwoche says Volkswagen is in no rush to name a new chairman. The truth is probably somewhere in the middle. What is clear, however, is that the new chairman will need broad support from the company's labor representatives as well as its shareholders – including the Porsche and Piech families and government representatives from Lower Saxony and Qatar. Porsche Automobil Holding SE holds 50.7 percent of the company's shares, the State of Lower Saxony another 20 percent, Qatar 17 percent and the remaining 12.3 percent by other shareholders. Some have speculated that Winterkorn could be promoted to the chairmanship of the Supervisory Board, but could end up having his term as chief executive (and chairman of the managing board) extended instead, with the chairmanship going to another candidate. Related Video:

VW teams up with legendary electronic musicians Kraftwerk for 3D Autobahn concert

Electronic music fans know Kraftwerk. To paraphrase a famous TV anchor, they're kind of a big deal. The band is in the midst of an eight-concert show at Berlin's Neue Nationalgalerie, which includes a full 3D accompaniment. Why, you ask, is this on Autoblog, then? Well, Volkswagen is sponsoring it, highlighting the role that its iconic Beetle played on the band's equally iconic fourth album, Autobahn. And besides, it's Friday afternoon, and who doesn't want to listen to the soothing synth notes of early EDM pioneers? Check out the featurette on the connection between VW and Kraftwerk, and then for giggles, scroll down and give the first track of Autobahn a listen. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Volkswagen Group via YouTube Volkswagen Coupe Classics Videos

Auto execs surveyed say VW, BMW most likely to grow

A new survey of top global automotive executives indicates both Volkswagen and BMW are the most likely to grow their market share over the next five years.
Tax advisory firm KPMG LLP has released its 14th annual Global Automotive Executive Survey, which includes responses from over 200 executives. A total of 81 percent of respondents said they expect to see Volkswagen make gains, compared to 70 percent last year. BMW, meanwhile, saw 70 percent of those surveyed say they believe the company will increase its market share. That's a jump of 7 percentage points over last year. This is the first time in the history of the survey that BMW has claimed the second-place spot.
Meanwhile, Hyundai has seen its perceived market share potential slacken for the third year in a row. Around 61 percent of those surveyed predicted gains for Hyundai, down from 63 in 2012. Toyota also has a surprising year, but for just the opposite reason. While the manufacturer had slipped in ranking since 2011, it enjoyed the largest increase of any company in the 2013 survey, jumping to 68 percent from 44 percent last year.