embezzlement and illicit speculation. The scandal led in March to the resignation of ÖGB head Fritz Verzetnitsch. The SPÖ as a party was not involved in the fraud but Gusenbauer found it politically expedient to exclude ÖGB leaders from the lists of SPÖ candidates, drawing criticism from the ÖGB. Chancellor of Austria After the 2006 elections, the SPÖ was the largest single party but had no absolute majority of the parliamentary seats. A grand coalition between the ÖVP and the SPÖ was considered the most likely outcome. After prolonged negotiations, Gusenbauer became chancellor on 11 January 2007 at the head of an SPÖ-ÖVP coalition. In July 2007, Gusenbauer led the Austrian delegation to the 119th session of the International Olympic Committee in Guatemala City to present the proposal for Salzburg as host of the 2014 Winter Olympics; the proposal eventually lost against Sochi, whose bid was presented by President Vladimir V. Putin of Russia. Gusenbauer immediately drew criticism because he abandoned central promises of the SPÖ election campaign, such as those to abolish university tuition fees (it was decided by the SPÖ instead that students should do community service for 60 hours, which resulted in student protests) and to reverse the country's Eurofighter deal. This provoked public criticism even from SPÖ members. Infighting over Gusenbauer's ability to lead his party never subsided from this point onwards. On 16 June 2008, Gusenbauer was replaced as SPÖ chief by his minister of transport Werner Faymann. However, he formally remained chancellor until after the 2008 snap elections that were called in early July 2008 when the Austrian People's Party (ÖVP), led by Wilhelm Molterer, left the governing coalition. His time in office was the shortest since World War II. Post-politics career Gusenbauer briefly returned to his old post in the Chamber of Labour but immediately took on paid and unpaid positions in the private and non-profit sectors. In 2009, Faymann prevented Gusenbauer's candidacy for the office of High Representative of the Union for Foreign Affairs and Security Policy by agreeing to the nomination of Johannes Hahn from his centre-right junior coalition partner ÖVP as Austria's Member of the European Commission. Corporate boards Gusenbauer was made a member of the supervisory board of Alpine Holding, an Austrian construction conglomerate, in July 2009 and resigned from this position effective 1 May 2010, when it was announced that Gusenbauer was to head the supervisory board of