After initially lost power struggle with VW CEO Winterkorn now threatens Patriarch Piëch even the disempowerment. The support of the Supervisory Board for Piech apparently waning. Even a resignation does not seem impossible.
VW supervisory board, Ferdinand Piëch must for the lost power struggle against the CEO Martin Winterkorn now fear itself around his office. “The majority is against Piëch,” said a Supervisory Board with respect to the “Bild am Sonntag”. In addition to the ten employees’ representatives and the two respective supervisory boards of Lower Saxony and the Porsche family want the patriarch none. These are 14 of the 20 executive directors.
“The old man has to go,” a member of the panel describes the sentiment against Piëch. The trigger was mainly the meeting of the presidential last Thursday, had received full backing for the winter grain against the will of Piëch.
“capacity of the Chairman to question”
According to the newspaper Piëch wanted a contract extension Winterkorn only agree if his contract would serve as chairman of the board also extended. However, the five board members rejected the claim. Then it should be gone according to “Bild am Sonntag” in the session completely wild. Piëch have another member, Wolfgang Porsche, complained that this would “kill” him. Finally, the Patriarch spoke for the first time of withdrawal. He and his wife Ursula, who also sits on the board would resign from office. They would sell their multibillion-dollar investments in VW. “You have to after the meeting of Thursday calling into question the capacity of the Chair”, a supervisory board.
After the power struggle with VW patriarch Ferdinand Piëch CEO Martin Winterkorn has meanwhile quickly find the daily business. On Sunday, the 67-year-old is expected on a large Volkswagen event before the start of the auto show in Shanghai. In the “Group Night” the CEO usually gives a speech in front of hundreds or even several thousand guests.
Winterkorn can never be sure! Piëch defeat has never forgotten
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