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Volkswagen chief quits, opens door for Formula 1 project
The chairman of Volkswagen, Ferdinand Piech, has quit – effectively opening the door for one of the car manufacturer’s many brands to enter Formula 1. Piech – the 78-year-old chief of the Volkswagen Group – resigned from his role on Saturday. He has long been viewed as the reason VW had not entered F1 in recent times, due to his personal feud with F1's commercial rights holder Bernie Ecclestone. As previous reportedly by Motorsport.com, Piech had been effectively shunned by the VW Executive Committee of the Supervisory Board recently. However, his move to resign is understood to have taken the Group by surprise. VW’s Supervisory Board recommended that CEO Martin Winterkorn be...
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8y ago from Motorsport.com
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