15 June 2001: Volkswagen is set to decide on a successor to chief executive Ferdinand Piech in November, industry sources say. The move would curtail speculation about the long-awaited succession.

The earlier-than-expected decision would mean the colourful Piech could depart as early as the end of the year.

And that would pave the way for hot favourite and BMW former chief executive Bernd Pischetsrieder to take over.

Piech, who hopes to become chairman of VW's supervisory board, is due to retire as head of Europe's biggest carmaker at the end of 2002.
Pischetsrieder's reputation was tarnished by BMW's disastrous involvement with Rover but he has long been viewed as the most likely successor to Piech.

However, the markets have only been lukewarm towards him. He is currently head of VW's Seat unit and responsible for group quality control which has given him an insight into the company as a whole. CFC