The chairman of Volkswagen, Ferdinand Piech, has resigned.
The German car maker said Saturday that Piech had resigned because an environment of trust “no longer exists” within the company’s board.
Volkswagen has been dealing with a period of turmoil in recent weeks after Piech withdrew his support from CEO Martin Winterkorn. However, Piech failed in his bid to oust the CEO.
Piech is one of Volkswagen’s largest shareholders. His wife, Ursula Piech, has also resigned from her duties at the company.
Volkswagen temporarily named deputy chairman Berthold Huber to his post, until a new chairman is elected.