Lower Saxony premier says VW Chairman's exit was 'unavoidable'

By Reuters

Apr 25, 2015 08:34 PM EDT

The premier of the German state of Lower Saxony, which owns 20 percent of Volkswagen (VOWG_p.DE), said the resignation of VW Chairman Ferdinand Piech announced on Saturday 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 caused by the leadership crisis that started earlier this month.

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