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VW leadership crisis after Piech's resignation: How and with whom is VW going on?

VW leadership crisis after Piech's resignation
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Will Winterkorn become head of the supervisory board early?

D the only thing that is certain are two dates, on 4.5. the VW Supervisory Board meets, chaired by the acting chairman Berthold Huber. One day later, Huber will also chair the Group's ordinary general meeting. By this time there will be a new chairman of the supervisory board and perhaps also a new VW CEO. The search is in full swing.

A possible candidate for the chairmanship of the supervisory board is VW boss Martin Winterkorn, who has prevailed during the management crisis and should inherit Piëch in 2017 anyway. His contract as CEO runs until 2016, the Presidium of the Supervisory Board recently proposed a contract extension. Experts now hope, however, that there will be a generation change at the top of the management board sooner and that Winterkorn will move to the supervisory board.

None Case by Wolfgang Porsche!

Because Winterkorn, like Piëch, stands for a rather old-fashioned, patriarchal and centralistic management style, which insiders see as extremely obstructive for the strategic realignment of the group. Furthermore, Winterkorn is more likely to be pragmatic than visionary. Should Winterkorn actually move to the supervisory board as boss in 2017, VW would have to act on the post with an interim solution - that could be Berthold Huber or another candidate for the period - certainly not conducive to keeping the VW steamer on course over the long term.

The right to propose the successor to Piëch lies with the capital side. The owner families set the tone here, as they hold 50.7 percent of the shares through Porsche SE Holding. There is a good chance that it could then be a member of the family clan. Initially, the name Wolfgang Porsche crystallized out, but Piëch is said to have said immediately after his resignation that it should definitely not be his cousin. Ferdinand Piëch's brother, Michel Piëch, or Ferdinand Oliver Porsche are also at the top of the list of candidates - but it should be longer every day until the supervisory board meeting.

It doesn't matter who is running for the chairmanship of the supervisory board will - a total of 6 successors for the Winterkorn post as CEO are already in the starting blocks. In our photo show we show who has which chances.

The crazy oneVW-April - how in a few days a car manufacturer with global leadership claims became a car giant with a leadership crisis: A chronology of events:

10.4.2015:
VW Supervisory Board CEO Ferdinand Piëch attacked his Duz friend and the CEO of Volkswagen in an interview with Der Spiegel with just one sentence: 'I'm at a distance from Winterkorn' . VW Supervisory Board Hans Michel, Ferdinand Piëch's younger brother, accuses Winterkorn of not getting the problems in US business under control and of still not having made a decision on the 'Budget Car' project. Some supervisory boards stand behind Winterkorn immediately after the publication, e.g. Works Council Chairman Bernd Osterloh. Lower Saxony's Prime Minister Stephan Weil was 'unpleasantly surprised ' according to Spiegel. The reasons for public distancing remain unclear. The bad US business is repeatedly cited as a possible reason - on the other hand, Winterkorn has doubled the group's sales since taking office. More about Martin Winterkorn's balance sheet here.

13.4.2015 :
Piëchs Vice Huber on the Supervisory Board introduces himself to Winterkorn: 'In Mr. Winterkorn, we have an excellent motorist and CEO, who has our full confidence.'

15.4.2015:
Co-owner Qatar takes for the first time Position on the VW leadership crisis: 'To distance himself from the current CEO Martin Winterkorn without being able to present an alternative agreed with the Supervisory Board is not in the sense of QIA' , it says in the Handelsblatt. QIA ( Qatar Investment Authority) is a state fund that holds 17 percent of the voting rights in VW.

April 16, 2015:
The presidium of the VW supervisory board meets in Salzburg, alongside Ferdinand Piëch ge listen to the 6-member committee Wolfgang Porsche, Stephan Weil as Prime Minister of Lower Saxony, VW works council boss Bernd Osterloh and his vice Stephan Wolf as well as Berthold Huber from IG Metall and deputy Piëchs on the supervisory board. Martin Winterkorn also takes part in the 6-hour meeting. With the exception of Ferdinand Piëch, all members of the presidium stand in front of Winterkorn and threaten the stupid supervisory board boss that he is being advised to resign. Without a decision, you postpone until the next day.

April 17, 2015:
Ferdinand Piëch is celebrating his 78th birthday. The group issues a brief statement in which VW boss WInterkorn remains in office and recommends the contract extension to the supervisory body. 'The Presidium of the Supervisory Board of Volkswagen AG declares that Professor Dr. Martin Winterkornis the best possible Chairman of the Board of Management for Volkswagen. The Presidium attaches great importance to the fact that Professor Dr. Winterkorn continues to pursue his function as Chairman of the Management Board as actively and successfully as before and has the unreserved support of the committee in this regard. The Presidium will now propose to the Supervisory Board that Professor Dr. Winterkorn in the February supervisory board meeting of the year 2016 to be extended. '

18.4.2015:
The power struggle has not been decided, experts suspect that Piëch's defeat In the 'Bild am Sonntag' a member of the supervisory board is quoted as saying: 'The majority is against Piëch' . 14 votes are required for a replacement, in addition to the 10 votes of the On the employee side, the representatives of Lower Saxony and the Porsche Piëch family are also to be voted out.

April 19, 2015
Support for Piëch: Vice-President Huber tells Spiegel: 'It there is no reason to withdraw from Dr. Piëch to operate. '

April 23, 2015:
The NDR and the German press agency (dpa) report: Piëch wants to replace Martin Winterkorn and has with At a meeting in Stuttgart, the Piëch and Porsche families had already advertised a possible successor. For example, he is said to have put Porsche boss Matthias Müller in position to succeed Winterkorn. Piëch denied the Spiegel on the same day: 'Mr. Winterkorn and I spoke to each other last week and agreed to continue working together. I'm not replacing him. '

April 25, 2015:
The resignation of Piëch. In a mandatory announcement from the group, Ferdinand Piëch resigns his mandate as head of the supervisory board with immediate effect Ms. Ursula resigns from her position on the supervisory board. The deputy supervisory board boss Berthold Huber will act as head of the supervisory body.

VW's statement in full:

  1. The members of the Presidium have mutually agreed that, against the background of the past few weeks, the mutual trust necessary for a successful cooperation no longer exists.
  2. Against this background, Prof. Dr. Ferdinand K. Piëch has to be Office as Chairman of the Supervisory Board and all of his Supervisory Board mandates within the Volkswagen Group resigned with immediate effect. Ursula Piëch also has all of her Supervisory Board mandates in the Volkswagen Group with immediate effect g.
  3. The deputy chairman Berthold Huber will take over the management of the business of the chairman of the supervisory board. Mr. Huber will also chair the Supervisory Board meeting on May 4, 2015 and the Annual General Meeting on May 5, 2015.
  4. Under the direction ofMr. Huber's representatives of the shareholders and employees will determine the chairman to be elected in a trustful cooperation. The election of the future chairman of the Volkswagen supervisory board takes place on the proposal of the capital side.

April 27, 2015:
Qatar is planning a new appointment for one of the two supervisory board mandates. The emirate wants to send the military scientist and air force pilot Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani to the board of directors.

April 30, 2015:
At the request of the VW board of directors are women Dr. Louise Kiesling and Ms. Julia Kuhn-Piëch have been appointed members of the Supervisory Board of Volkswagen AG by the responsible local court in Braunschweig with immediate effect. According to information from the 'Bild' newspaper, however, Piëch objected to the nomination of his two nieces. He doesn't believe in the decision to appoint his nieces as members of the supervisory board. He wants to enforce his own candidates, reports the mirror. Both are too inexperienced and have so far had little contact with the auto industry. Piëch's own candidates are, according to 'Bild', the former BMW manager and long-time Linde boss Wolfgang Reitzle and ex-Siemens board member Brigitte Ederer.

Dr. Louise Kiesling PhD (RCA) is 57 years old and after graduating in fashion design (University of Applied Arts, Vienna) and automotive design (Royal College of Art, London) worked as a designer in Germany, Austria and Great Britain. She is a partner and managing director of several commercial companies, including the Textilmanufaktur Backhausen GmbH (Hoheneich, Austria).

Julia Kuhn-Piëch (34 years old) completed her law studies in Vienna and then at the Technical University Vienna studied real estate and property management. She works as a freelance real estate manager and has been a member of the MAN Truck & Bus AG Supervisory Board since 2014. Louise Kiesling is a daughter of Louise Daxer-Piëch, sister of Ferdinand Piëch. Julia Kuhn-Piëch is a daughter of Hans Michel Piëch, who is also on the VW supervisory board. Hans Michel is the younger brother of Ferdinand Piëch. With this appointment, the VW supervisory board already meets the 30 percent quota for women that will apply from 2016.

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