Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Fiat/Chrysler CEO Sergio Marchionne steps down from UBS bank board]]>http://www.autoblog.com/2009/09/30/fiat-chrysler-ceo-sergio-marchionne-steps-down-from-ubs-bank-boa/http://www.autoblog.com/2009/09/30/fiat-chrysler-ceo-sergio-marchionne-steps-down-from-ubs-bank-boa/http://www.autoblog.com/2009/09/30/fiat-chrysler-ceo-sergio-marchionne-steps-down-from-ubs-bank-boa/#commentsFiled under: , , ,

Sergio Marchionne with fellow board members at a UBS press conference

Sergio Marchionne is one of the busiest people in the business. Or any business, for that matter. After comprehensively restructuring his empire - what amounts to nearly the entire Italian automobile industry and then some - he lost his right-hand man to Volkswagen. But that didn't stop him from taking over at Chrysler's headquarters and tendering bids on other automakers as well, all the while battling the bureaucracy to get it all done. But everyone's got their limits, even Marchionne, so it should come as no great surprise that the Fiat and Chrysler chief executive has announced his resignation from the board of directors of Swiss bank UBS.

The Italian industrialist, however, wasn't just filling an empty seat on the UBS board. He was elected two years ago and named vice chairman last year. In fact, he was reportedly considered as a potential chief executive for the financial firm earlier this year. But while he may be up to taking the reins of one industry in shambles, he's not looking to take on two. Neither, incidentally, is Shell CEO Peter Voser, who is also stepping down from the UBS board.

[Source: Automotive News - Subs Req'd | Image: Sebastian Derungs/AFP/Getty]

Fiat/Chrysler CEO Sergio Marchionne steps down from UBS bank board originally appeared on Autoblog on Wed, 30 Sep 2009 08:00:00 EST. Please see our terms for use of feeds.

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The new Chrysler Group, LLC is out of bankruptcy, in bed with the Italians and the U.S. Government, and now it has a complete board of directors. Chrysler is forging ahead with a fresh group of board members, including former governors, Fiat royalty, and some people you've probably never heard of.

Chrysler announced the rest of its nine member board of directors over the holiday weekend, joining active chairman C. Robert Kidder, who was announced in May. Among the new board members are former Michigan Governor and U.S. Congressman James Blanchard, Fiat CEO Sergio Marchionne, Fiat Powertrain CEO Alfredo Altavill and former Northwest Airlines CEO Douglas Steenland.

Noticeably absent from the board is overt representation from the United Auto Workers, which is perhaps surprising as the labor group owns part of the new Chrysler. Hit the jump to read up on all of the automaker's board members.

[Source: Chrysler | Image: Bill Pugliano/Getty]

Continue reading Chrysler fills out board of directors

Chrysler fills out board of directors originally appeared on Autoblog on Mon, 06 Jul 2009 08:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Alfredo AltavillAlfredoAltavillboard of directorsBoardOfDirectorschryslerchrysler groupChryslerGroupdodgejeepllcsergio marchionneSergioMarchionneMon, 06 Jul 2009 08:29:00 EST<![CDATA[GM chairman looking to turn over half of board of trustees by June?]]>http://www.autoblog.com/2009/04/14/gm-chairman-looking-to-turn-over-half-of-board-of-trustees-by-ju/http://www.autoblog.com/2009/04/14/gm-chairman-looking-to-turn-over-half-of-board-of-trustees-by-ju/http://www.autoblog.com/2009/04/14/gm-chairman-looking-to-turn-over-half-of-board-of-trustees-by-ju/#commentsFiled under: , , ,



According to the Detroit Free Press, General Motors interim chairman, Kent Kresa, has been asked by president Obama's administration to replenish the automaker's board with fresh blood. Kresa said that while the board did achieve "historic things" recently, like renegotiating the UAW pay scale, he also said that the board didn't fully comprehend the magnitude of the downturn.

As it did in asking Rick Wagoner to step down, perhaps the White House Auto Task Force views GM's board as too steeped in the way things used to be. They are, after all, the same folks who backed Wagoner fully not even a year ago. Kresa is interviewing potential board members with an eye to replacing six people, which would be half of the current board, by June.

[Source: The Detroit Free Press | Image: Getty/Jeff Haynes]

GM chairman looking to turn over half of board of trustees by June? originally appeared on Autoblog on Tue, 14 Apr 2009 16:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>auto task forceAutoTaskForceboard of directorsBoardOfDirectorsgmgm board of directorsGmBoardOfDirectorskent kresaKentKresaTue, 14 Apr 2009 16:20:00 EST<![CDATA[UAW local wants seat on GM board in exchange for concessions]]>http://www.autoblog.com/2008/12/09/uaw-local-wants-seat-on-gm-board-in-exchange-for-concessions/http://www.autoblog.com/2008/12/09/uaw-local-wants-seat-on-gm-board-in-exchange-for-concessions/http://www.autoblog.com/2008/12/09/uaw-local-wants-seat-on-gm-board-in-exchange-for-concessions/#commentsFiled under: ,



Looking to further tighten up its hammerlock on General Motors, the UAW would reportedly like a seat on the automaker's board as a reward for helping it garner federal dollars. Marc McQuillen, president of UAW Local 2404 in Charlotte, North Carolina, has posted on his group's website that the suspension of the jobs bank and a two-year delay on automaker payments into the retiree healthcare fund are concessions enough for the UAW to seek a seat at the big table. We visited the website ourselves and couldn't find any such declaration, so it must have already been removed. While this particular local union has been shooting off its mouth in the Tarheel state, GM says it has not been asked for any such thing by the UAW itself. We think perhaps the brain should get back in touch with what its pinky toe is doing before trying taking over the world.

[Source: Detroit Free Press]

UAW local wants seat on GM board in exchange for concessions originally appeared on Autoblog on Tue, 09 Dec 2008 11:01:00 EST. Please see our terms for use of feeds.

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Porsche has been in the news quite a bit over the past few weeks. While one hand is embroiled in an emissions tax battle with the Mayor of London, the other hand is slowly scooping up shares of Volkswagen.

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]

Wolfgang Porsche joins VW board originally appeared on Autoblog on Thu, 13 Mar 2008 14:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Board of DirectorsBoardOfDirectorsChristian WulffChristianWulffLower SaxonyLowerSaxonyPorscheSupervisory BoardSupervisoryBoardVolkswagenWolfgang PorscheWolfgangPorscheThu, 13 Mar 2008 14:02:00 EST<![CDATA[Porsche ups ownership in VW to 51%]]>http://www.autoblog.com/2008/03/03/porsche-ups-ownership-in-vw-to-51/http://www.autoblog.com/2008/03/03/porsche-ups-ownership-in-vw-to-51/http://www.autoblog.com/2008/03/03/porsche-ups-ownership-in-vw-to-51/#commentsFiled under: , , , ,



The supervisory board of Volkswagen Group just gave approval for Porsche AG to take a majority stake in the people's automaker. Porsche currently owns 31% of Volkswagen, and this move will ultimately increase that share to 51%. The increase in ownership is estimated to cost Porsche upwards of $20 billion, although the financial deets have not yet been released. Porsche is saying that owning a majority stake in VW will not result in the two companies combining, creating a German mega-automaker of biblical proportions. Don't expect things to change overnight for either company, as transactions like these generally take months to complete, if not years.

This move wasn't unexpected, either. Porsche has slowly been increasing its interest in VW over the past several years as we reported in June 2006, April 2007 and again in June 2007. Recent announcements that Porsche may use Volkswagen diesel powerplants in its Cayenne SUV now seem even more likely, and exchanges of technology, components and production capacity between the two are likely to increase.

[Source: Detroit News]

Porsche ups ownership in VW to 51% originally appeared on Autoblog on Mon, 03 Mar 2008 13:57:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Board of DirectorsBoardOfDirectorsOwnershipPorscheporsche volkswagenPorscheVolkswagenPurchaseSharesStockVolkswagenMon, 03 Mar 2008 13:57:00 EST<![CDATA[Jim Press gains a seat on Toyota's board of directors]]>http://www.autoblog.com/2007/04/12/jim-press-gains-a-seat-on-toyotas-board-of-directors/http://www.autoblog.com/2007/04/12/jim-press-gains-a-seat-on-toyotas-board-of-directors/http://www.autoblog.com/2007/04/12/jim-press-gains-a-seat-on-toyotas-board-of-directors/#commentsFiled under: ,



Jim Press, the man at the helm of Toyota Motor North America, is set to become the first non-Japanese member of Toyota's board of directors. He is currently a managing officer of the company, but when promoted the title on his desk will read "Senior Managing Director". That desk will be shipped to Japan, where Press is apparently being relocated. It's not clear how effectively Press will be able to manage Toyota Motor North America from his executive desk chair in Japan, though we imagine many red eye flights will be required to keep an eye on the North American market. His appointment to the board of directors clearly signals the importance of the North American market to Toyota's fortunes, as if launching its own half-ton pickup in the U.S. didn't already send that signal loud and clear.

[Source: Automotive News, sub. req'd]

Jim Press gains a seat on Toyota's board of directors originally appeared on Autoblog on Thu, 12 Apr 2007 13:42:00 EST. Please see our terms for use of feeds.

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