Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1709
    +0.0015 (+0.13%)
     
  • GBP/USD

    1.2624
    +0.0002 (+0.01%)
     
  • Bitcoin GBP

    55,788.26
    +610.91 (+1.11%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,348.99
    +180.92 (+0.45%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

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)