Jump to content

MyCarForum Logo
Search
Magnifying glass

SEARCH

1

VW: CEO's contract extended

By SYF77 on 12 Jan 2011

Attached Image

German automaker Volkswagen AG has extended CEO Martin Winterkorn's contract for another five years. Winterkorn's current contract is to be ended on December 31st, 2011 but it is now extended until the end of 2016.

The fact that the announcement has been made so early signals a vote of confidence in Winterkorn's leadership of the VW Group. Winterkorn, 63, is tasked with executing Volkswagen's strategic plan to become the world's top automaker in volume sales by 2018, and knocking off Toyota from its throne in the process.

In addition to sales figure, Winterkorn announced earlier that he plans to double VWs production in Chinas market, which is considered the biggest auto-market in the world, along with opening a new factory in the U.S. aiming to surpass Toyotas Profitability by 2018.

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. The setting up of an assembly plant with partner company DRB Hicom in Malaysia is part its master plan to achieve this goal.

vw, ceo, martin winterkorn and 3 more...

Viewed: 598 times

Related Blog Posts
SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



  • 1
  • 1
 
Car Makes

Please select a car make

Facebook Likes
   Featured Blog Post
Photo
The Australian actor is reported to be portraying Enzo Ferrari in a new biopic on the Ferrari fou...
POPULAR BLOG POSTS
Photo
In recognition of 50 years of selling cars in Japan, the company is building a few one-off versio...
Photo
Mercedes-Benz has released a teaser video of its soon-to-be unveiled E-class coupe. The 21-second...
Photo
Before we start asking what the Government can do to encourage the use of electric vehicles (EVs)...
Photo
Subaru and its official performance arm STI have an interesting concept based on the BRZ due for...
Photo
With its main rivals all going down the turbocharged route, Lamborghini wants to be special by st...
   Lifestyle Articles
   Tags