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BERLIN, Germany - The weekend's resignation of VW's chairman Ferdinand Piech has given investors hope of revived profitability at its core division, a reversal of under-performance in other countries and the burying of lingering plans for acquisitions.
Piech, mastermind of VW's global expansion and for 20 years a towering figure within the German group stepped down on Saturday after losing a showdown he had provoked with chief executive Martin Winterkorn.
A survey by advisory firm Evercore ISI was said to have shown that almost 80% of VW investors now expected the 12-brand group's stock value to rise.