Porsche plans coup against Volkswagen Chairman
September 15, 2008 by Alborz Fallah
If you thought your office politics were bad, you will have to feel a little for Volkswagen Chairman Ferdinand Piëch who is rumoured to be out the door today after Porsche Chairman Wolfgang Porsche (Piëch’s cousin) is expected to remove him.
A German magazine has published the news today saying Mr Porsche has gained majority support among shareholders that own his family’s carmaker. “It is not a question of ‘if’, rather ‘when’ and ‘how’,” the Magazine quoted one Porsche manager as saying.
The troubles apparently started last week when Piëch broke ranks with the other three Porsche representatives on the board. This left Mr Porsche being left “horrified by the behavior of the chairman.”
The family dispute between Pieche and Porche (who both have ownership stakes in the sports car maker) have been over control of Volkswagen, Porsche’s largest investment to date. With the Volkswagen laws conquered, Porsche is poised to take majority ownership over VW late this year.
The current VW chairman has previously been in charge of Audi and Volkswagen as CEO. He has also survived several coup attempts in the past.
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This was misleading. Porsche already sell a number of coupes. Why would they plan another? Is the VW Chairman a new model I didn’t know about? I realised then you meant coup. :)
So that would mean Porsche would own Lamborghini via Audi and Volkswagen. Oh what a tangled web they weave.
“Porschce plans coup against Volkswagen Chairman”
Porsche, not Porshce
GMUND!
Cheers
F-0
Piech:”We`re going to build the most luxurious VW in history,capable of stupid speeds at insane conditions and we`ll call it Phaeton and after we`re done we`ll built the best,fastest car EVER and we`ll call it ,hmmmm let say Veyron, Bugatti Veyron, yeah”
Shareholders:”This is madness, this is blasphemy!!!
Piech:”Madness,blasphemy? THIS IS VEEEEEDUUUUUB”
My respects to one of the greatest men in car manufacturing industry with enough balls and foresight to push great project forward regardless of materialistic nagging of numerous naysayers.
Raise your hand if you saw this coming back when Porsche bought VW
Piech is a great engineer with absolutely NO MARKETING SENSE and HUGE EGO.
What, really, has he done for the US market? The aforementioned Phaeton? Lower Saxony has screwed up the US market quite nicely by themselves and then throw Piech into the blender and, BOOM! Like a magic trick, VW has slipped and slid through hard times, and spits and starts.
Wolfgang Porche has recently called VW’s US situation and cars unacceptable. That’s all I need to hear. Time for Piech to go for a long drive in one of his super-cars made from the spoils, and at the expense of VW.