Following Monday's abortive attempt by some board members to oust chairman Ferdinand Piech, Volkswagen moved today to reassure analysts that it remains completely independent from Porsche, its newest and largest shareholder.
CEO Bernd Pischetsrieder (pictured) stated that VW reserves the right to enter into partnerships with other carmakers, such as DaimlerChrysler, and that the agreement with Porsche will not lead to cancellation of projects that compete with Porsche, including the planned Audi Le Mans sports car.

Pischetsrieder also said that a new, independent subcommittee would be created to ensure that the VW board, which now includes Porsche representatives, continues to follow VW corporate governance standards.

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
  • From Our Partners

    You May Like
    Links by Zergnet
    Share This Photo X