Sunday, April 26, 2015

End of the Volkswagen power struggle: How Piëch his own grave dug – ABC Online

Updated on Sunday, 26.04.2015 10:10
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The week-long power struggle at the VW-tip has with the resignation of the Group patriarch Ferdinand Piëch taken a sudden turn. What the 78-year-old drove his attacks on VW boss Winterkorn, however, remains unclear – as well as the sign for the era after Piëch.

Ferdinand Piëch has lost confidence after a power struggle for Volkswagen tip – and has to retire after years as Chefausseher. The 78 year old VW patriarch came back on Saturday with immediate effect from his inspector posts.

Also Piëch’s wife Ursula are therefore their mandate on the supervisory body from. With Piëch’s resignation, the Group is facing a new era. The former IG Metall Chairman Berthold Huber takes the Supervisory Board acting as chairman.

If Piëch forced to resign?

The disempowerment of the Patriarchs is now the finale of a day-long struggle for influence at the top of the Europe’s largest carmaker. Piëch’s resignation was preceded by a renewed crisis meeting of the six-member Supervisory peak on Saturday afternoon. The Panel assembled at Braunschweig at the airport. At the end of several hours of discussions, it was clear that Piëch will go.

Why Piëch, shrewd tactician who has lost the power struggle? Apparently has made a crucial mistake. He Martin Winterkorn, his own pupil underestimated. The VW boss made his popularity among workers exploited. Land Niedersachsen stood behind him, as the vote shows the before last Thursday of the Supervisory Board. All five other members turned against Piëch there. Moreover, they even voted for a contract extension of Winterkorn

Winterkorn took to strike out

According to information from the “Bild am Sonntag. “Winterkorn must have planned since his retaliation. According to the report Piëch was very angry after his defeat – and cursed his cousin and board member Wolfgang Porsche. He wanted to “kill” him. He also recorded “Bild am Sonntag” believe that Winterkorn would spy on. He threatened that he would sell his VW shares worth several billion euros. With this statement the “old” as he is called in Wolfsburg maneuvered finally sidelined. “The old man has to go,” a member of the Supervisory said “Bild am Sonntag.”

But Piëch fought for his office. That his own cousin would push him out of office, he could not imagine. A meeting with the Porsche in Stuttgart went away from inconclusive. For Piëch was apparently killed at his cousin Wolfgang Porsche in disgrace. Porsche forged an alliance with the employee – and organized so that a majority against Piëch. He faced the ballot. This disgrace was the patriarch anticipate and announced so yesterday “voluntary” resignation

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Bureau of the VW supervisory board established the resignation Piëch on Saturday with a broken relationship: “The members of the Bureau have jointly determined that in light of the past few weeks that is necessary for a successful collaboration mutual trust no longer exists,” it said in a explanation.

Similarly, significant words used Lower Saxony Prime Minister Stephen Weil, for the VW shareholders took place in Hannover: “The discussion of the past two weeks have been harmful to Volkswagen There was a flurry of personnel debates The Bureau (.. the Supervisory Board) therefore “not

loss of confidence solvable

Huber by Weil’s words,” had to create the necessary clarity. the explicit support of the shareholders. ” The state of Lower Saxony is the second largest shareholder in Volkswagen after the Porsche and Piëch families. Huber also spoke of a loss of trust between Piëch and the rest of the Bureau, “which has proven in the past few days as a non-detachable”.

Piëch was for many years as the center of power at VW. About 14 days ago, he had the internal struggle for the future of VW-top made public by saying the “mirror” that he was “at a distance” for Volkswagen CEO Martin Winterkorn. In order Piëch moved as a complete surprise from his long professional foster son.

Piëch shoveled his own grave

A source of the processes in the Supervisory Bureau told the dpa in a first reaction in the evening “. Before Piëch’s decision certainly all have the greatest respect” The speaker of the Porsche family, Wolfgang Porsche, said: “We have full confidence in the management of Volkswagen AG and regret the developments of the last days.” Porsche thanked Piëch “for the decades of his extraordinary and highly successful deployment”. The Porsche’s talk about the Porsche Holding PSE together with the Piëch-family branch about 50 percent of the voting rights in Volkswagen. Wolfgang Porsche is the boss in the PSE board.

Piëch’s departure ends a tough fight in the VW-peak whose intensity all observers had surprised. Two weeks ago Piëch had the “mirror” said the crucial phrase: “I am to distance Winterkorn”. The loss of confidence was shaken the Group. In the center was a “disaster” is mentioned.

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