Volkswagen chairman, Ferdinand Piech, 76, has refuted speculation he is soon to step down due to poor health and has said he will serve out the rest of his contract.
He made the statement to reporters at the Frankfurt car show in response to reports last week that company chief executive Martin Winterkorn was soon to takeover.
Piech’s contract, extended last year, runs into 2017.
It was rumoured that Volkswagen finance chief Hans Dieter Poetsch would replace Winterkorn until a longer-term solution was found.
