Volkswagen Update on F1 Racing

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Volkswagen’s chairman Ferdinand Piech has stepped down from his role.

He resigned at the weekend following a clash with his chief executive Martin Winterkorn.

Piech has in the past been the stumbling block in a potential move into F1 due to a personal feud with F1 chief Bernie Ecclestone.

In sharp contrast, Winterkorn has been credited with expanding VW’s presence in motorsport.

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