VW to Ponder New Leadership Structure

Volkswagen AG's top leadership will hold a special meeting in June to consider changes in VW's management structure and possible brand alignment, an unnamed supervisor board member tells Reuters.

CEO Martin Winterkorn told shareholders on Tuesday the company will address issues raised by former Chairman Ferdinand Piech. Piech resigned last month after failing to oust Winterkorn, reportedly because of VW's abysmal sales performance in the U.S., high VW brand production costs and inability to develop a low-priced car for emerging markets.

The company's supervisory board is looking for a successor to Piech, who ruled VW in autocratic fashion for more than 20 years. Interim chairman Berthold Huber says the board will pursue candidates with "necessary diligence and calm."