War in Volkswagen, Piech leaves all his positions. The manager beats … – The Daily

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Italian said: “He wanted to scrapped and was scrapped.” He wanted to liquidate and was liquidated. Within two weeks, when he declared that he had “distanced from Winterkorn,” his former dolphin, Ferdinand Piech has gone from riches to rags. Until last night was the highest paid Chairman of the Supervisory German: 1.475 million euro, almost a quarter more than in 2014. Then he resigned, and its wife Ursula ( together in the photo below ), from any role within the Volkswagen Group .

The grandson of the founder of Porsche has remained isolated and preferred to leave, despite being one of the individual shareholders the most important. The paradox is just that apparently seem to have won the influences more than the shares. And, for sure, at least in the immediate, is so: in the medium term is still to be seen because the reason of hard dissent expressed by Piech against Martin Winterkorn are not leaked. Speculation regarding the poor performance in the USA , the poor profitability of the VW brand, the possible delays on new technologies, the lost savings. In the coming weeks the group will go in search of a new equilibrium. In the German system of governance, the unions are extremely strong and their support was crucial to support the manager disheartened in the press from patriarch that has so “outraged” the role other directors. Because workers are many and they vote, even politics, in this case Stephan Weil , the Social Democratic governor of Lower Saxony , a shareholder at 13% of the group, but with the 20% of the votes and, above all, the right of veto, it is inevitably sided with them.

The last attempt to Piech to pursue his goal was to rebuild a majority family (the two dynasties , the other is that of the Porsche, control almost 51% of the vote with 32% of the shares: 36 billion capitalization of 116) to vote on the successor to the CEO prior to the meeting of 5 May. Apparently unnecessarily. Even former chancellor Gerhard Schroeder had taken defenses Piech in recent days. Waste of breath, please.

The paradox of the “Volkswagen” is that apparently seem to have checked those who have influence over those who have the capital. An unusual situation. And for sure the Porsche, that were decisive in this “challenge”, will prove to be able to collect a ‘ important legacy and also (positively) cumbersome. The scenarios are far from clear, it seems unthinkable that someone like Piech, so far used to dictate , to leave so, almost without “counterpart”. He had also threatened to sell their holdings and those of his wife – is spoken by 13% of the Porsche Automobil Holding SE through which families control Volkswagen AG – opening new scenarios on the internal balance of group.

With Piech according Weil, very talkative in this period, one that leaves the group “without exaggeration, is between the most important figures of the German economic history “. That is the reason why the suspicion remains that the battle is not yet over, but only moved to another level.

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