Saturday, April 25, 2015

Where the VW Group controls? –

Ferdinand Piëch had apparently gambled away by the power struggle for Volkswagen tip the confidence – and has to retire after years as chief overseer. The 78 year old VW Patriarch met on Saturday with immediate effect from his inspector post back. Also Piëch’s wife Ursula gives her mandate from on the supervisory body. 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.

shattered ratio

The Bureau of the VW supervisory board said in connection with the Piëch’s resignation on Saturday of 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 the rather unusually frank explanation. Similarly, significant words used Prime Minister of Lower Stephan 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 therefore had to create the necessary clarity…”

acting at the top: Berthold Huber from IG Metall

Huber by Weil’s words, “the express shareholder support “. 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 most powerful man in VW. About 14 days ago, he had the internal struggle for the future of the group’s top publicly, saying the news magazine “Der Spiegel” that he was “at a distance” for Volkswagen CEO Martin Winterkorn. In order Piëch moved completely by surprise by his longtime professional foster son from.

If the Board Tax: Martin Winterkorn

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 committee gathered information after the German Press Agency in Brunswick at the airport. At the end of several hours of discussions, it was clear that Piëch will go.

“The greatest respect”

A source of the processes in the Supervisory Bureau told the dpa “Before Piëch’s decision certainly all have the utmost 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 family 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. Piech is the grandson of Ferdinand Porsche, the legendary designer of the VW Beetle.

Up to Piëch’s attack of the 67-year-old CEO Winterkorn was traded as Piëch’s successor at the head of the Supervisory Board. With the dismantling by Piëch suddenly a question mark in front of Winterkorn’s future in the Group. As a result, Piëch but got himself under increasing pressure.

In the search for a successor to Piëch at the top of the Supervisory Board, the committee wants to time. “The Board is operative management is fully operational,” Weil said. There is no reason to rush – The aim is that the panel under broad a unanimous proposal. Whether Winterkorn reportedly play a role either, because even Huber wanted to comment. “We are going to make any statements. We do not want a debate regarding another to replace,” said Weil.

What makes Winterkorn?

Winterkorn could now to strong man in Wolfsburg are. On Friday of last week, the Supervisory Bureau had gathered for a first crisis meeting in Salzburg – the charge was next Piëch and Winterkorn. The next day, the Bureau issued a statement that as a vindication of winter grain is read. Accordingly, it is the “best” CEO and next spring will even get another contract extension.

The wife goes: Ursula Piëch was also on the supervisory board

That was the beginning of defeat for Piëch standing in front of a majority of 5 isolated in the six-member Bureau after agency information: 1 stood against him. Last Thursday it was called then suddenly that Piëch trying to subvert the decision of the sextet. Accordingly, he worked behind the scenes on to the detachment Winterkorn, who would be selling before the Annual General Meeting on May 5 after Piëch’s will. But even with the then following public record Piëch could not turn the situation around: “I do not operate the replacement of Martin Winterkorn.”

ml / haz (dpa, rtr)


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