Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Winterkorn to remain at helm of VW

Send a link to a friend

[January 03, 2011]  BERLIN (AP) -- German automaker Volkswagen AG says its board has agreed to extend the contract of chief executive Martin Winterkorn through the end of 2016.

HardwareThe company, Europe's largest automobile maker, said late Sunday its board had unanimously approved the extension of Winterkorn's contract, which was set to expire on Dec. 31, 2011.

The decision should allow Winterkorn to preside over VW's planned merger with Porsche AG. It will join Audi, Seat, Bentley and Skoda on the Wolfsburg-based automaker's brand list.

Winterkorn took over as VW head in January 2007.

Shares of VW jumped 3.17 percent to euro125.25 ($167.36) on Monday in Frankfurt midmorning trading.

[Associated Press]

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Misc

< Recent articles

Back to top


 

News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor