Wolfgang Porsche joins VW board
In related news, Porsche Chairman Wolfgang Porsche was nominated today to the Volkswagen supervisory board. This move may help fuel the fire that Porsche is aggressively pursuing a larger piece of Volkswagen than it publicly admits, but VW's board is astute. When it added Porsche to the Board, it also invited Lower Saxony Prime Minister Christian Wulff and his finance minister back for another term. Lower Saxony is the second largest shareholder at Volkswagen these days. With 82,000 VW jobs in their state, the region's veto power is significant to all involved, especially Porsche, which would have to square off against Lower Saxony's veto vote in a bid to fully take control of Volkswagen.
[Source: Automotive News, subs req'd]
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