CHATTANOOGA (WRCB) - The CEO of Volkswagen has been given the green light to lead the company's global operations through 2016.
According to a Reuters report, board members want Martin Winterkorn to remain in his current position until 2016, meaning another five years of term for the CEO. The current contract of the CEO expires in 2011. Volkswagen has not offered an official comment on the report.
Winterkorn runs the worldwide operations and has a goal to overtake Toyota as the world's largest auto manufacturer by 2018. VW is already #1 in Europe.
Jonathan Browning replaced Stefan Jacoby as CEO of Volkswagen Group of America. Frank Fishcher is the CEO for Volkswagen Group of America Chattanooga Operations.
The new midsize sedan, yet to be publicly named, will be unveiled at the Detroit auto show in early January. The car will be produced in Chattanooga.