The second largest Volkswagen shareholder Lower Saxony has the Group Board missed a lesson. The country refused the leadership of the car manufacturer because of unanswered questions in the work-up of the exhaust affair a complete discharge for the past year. On Thursday morning was economy minister and board member Olaf Lies (SPD) information in confidential session the Economic Committee of Parliament in Hannover on the situation.
The VW-home country had abstained from the vote at the general meeting of its votes officiating at one and a former manager included. Thus refused Niedersachsen with its 20-percent stake in Europe’s largest automaker the retired ex-CEO Martin Winterkorn and the current VW brand chief Herbert Diess the usual confidence.
Lack of trust
If a director is not relieved at a general meeting, which does have no direct legal consequences. However, it is considered generally as a sign of lack of confidence.
“Lower Saxony would not give the slightest impression in the current process state to position itself on the issue of the ongoing investigation,” said a spokeswoman for the state government in the early hours of Thursday. “That alone is a matter for the public prosecutor’s office and possibly later the courts.” The final completion of the investigation remains to be seen, it presumed innocent – “hasty conclusions prohibitive”
600,000 sites in Lower Saxony
<. p> Lower Saxony abstentions occurred as a result clearly evident, even if the agreement in the sum with Winterkorn and Diess filed for relief. the relief were in the final result, however, already as safe, had since the Porsche Holding PSE as the largest shareholder a positive vote announced . the PES holds more than 50 percent of the voting rights in VW and sets the course for simple majorities alone determined. Behind her stands the family Porsche / Piëch.
In Lower Saxony, every fifth job in the VW Group with around 600 000. Make home. the abstention of the country has a negative for Volkswagen signal effect, because on the question of the board discharge for 2015, the handling of the affair depends.
Wednesday was without surprises
On Monday it was revealed that the Braunschweig public prosecutor under investigation for market manipulation against Winterkorn and Diess. In both there is the suspicion to have informed the financial world too late about the dimension and the potential financial risks of millions of exhaust manipulations.
This was preceded by the investigation an indication of the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). Winterkorn resigned in swirl of gas crisis, but he maintains that it did not make any mistakes. Diess was formerly BMW board and directs the core passenger car brand to Golf and Passat since July, 2015. The affair was flying in late September to
The rest of the vote was run on Wednesday night without surprises -. Including the decision for a Mini-dividend. Also applications for a special audit by an independent body could be as expected not prevail. However, it is expected that the applicant her concern now want to push through to trial
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