Lower Saxony premier says VW Chairman's exit was 'unavoidable'
HAMBURG, April 25 (Reuters) - The premier of the German state of Lower Saxony, which owns 20 percent of Volkswagen (Xetra: 766400 - news) , said the resignation of VW Chairman Ferdinand Piech announced on Saturday (Shenzhen: 002291.SZ - news) was necessary to create clarity about the carmaker's leadership.
"I regret the resignation of Ferdinand Piech, but it was unavoidable in the end," Stephan Weil said in a statement.
Deputy Chairman Berthold Huber, who is to take over from Piech until a permanent successor has been named, echoed his comments, saying an end had to be put to uncertainty among employees of Volkswagen (Other OTC: VLKAF - news) caused by the leadership crisis that started earlier this month. (Reporting by Jan Schwartz; Writing by Maria Sheahan; Editing by Georgina Prodhan)