VW won't get a seat on Porsche's board
There's no record of VW actually asking for one, but in case they wanted a seat on Porsche's management board, Porsche has said, "Uh, nein." That's the word from Porsche Automobil CFO Holger Härter, who forms half of the management board. The other half is Porsche CEO Wendelin Wiedeking. Nor will the company's charter and co-determination agreements be altered. He did, however, open the door to adding more members in the future.
The worker's board will remain three Porsche and three VW reps, even should Porsche up its stake in VW to 51-percent. Porsche currently owns 31-percent, but if the European Court of Justice strikes down the so-called Volkswagen Law that limits a shareholder's voting stake, it will move to take control of VW.
[Source: Auto News]
Reader Comments (Page 1 of 1)
Mike 9:03AM (9/26/2007)
If Porsche is smart they will keep their relationship with VW purely financial and technologically parasitic, taking what they need/want and nothing else from that company.
VW will do nothing but dilute the Porsche brand, inspire a way-too-broad model range (not that the 4-door and SUV they have aren't already pushing it), and ruin the quality of their vehicles should they get in tight with them.
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Jon 10:57AM (9/26/2007)
How did I know the first poster will comment on VW quality just because the name VW is mentioned??
SPG 7:53PM (9/26/2007)
VW won't get a seat?
I got two. You know, in case I want to put my feet up.
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