April 15, 2015 / 5:08 PM / 3 years ago

VW panel likely to meet by Friday on leadership crisis: sources

BERLIN/STUTTGART (Reuters) - The steering committee of Volkswagen’s (VOWG_p.DE) supervisory board will likely meet by Friday to try to resolve a leadership crisis at the German carmaker, two sources familiar with the matter told Reuters on Wednesday.

Volkswagen Chief Executive Martin Winterkorn stands at the Volkswagen booth at the world's largest industrial technology fair, the Hannover Messe, in Hanover April 13, 2015. REUTERS/Wolfgang Rattay

Piech unleashed a full-blown leadership crisis at Europe’s largest automotive group last Friday by telling German magazine Der Spiegel he was distancing himself from Chief Executive Martin Winterkorn.

The six-member board panel includes VW Chairman Ferdinand Piech, works council chief Bernd Osterloh and two other labor representatives, Lower Saxony Prime Minister Stephan Weil and Porsche SE (PSHG_p.DE) Chairman Wolfgang Porsche.

“It’s relatively realistic that the meeting will take place tomorrow,” one company source said, declining to be named because the meeting is confidential.

A spokeswoman for Lower Saxony, VW’s No. 2 shareholder which controls 20 percent of voting shares, declined to comment. The works council didn’t return calls seeking comment.

Reporting by Andreas Cremer and Ilona Wissenbach; Editing by Georgina Prodhan

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