Re: Porsche plans coup against Piëch

[thejimrose]

man this is really some high drama. very 16th century, minus the beaheadings
. can anyone recommend any books about piech? i'd live to read more..

On Mon, Sep 15, 2008 at 1:18 AM, Dave <dave.eaton at clear.net.nz> wrote:

> trouble brewing for the chairman....
>
> Dave
> '03 rs6
> '04 allroad tdi
>
> ------------------
> Report: Porsche plans coup against Piėch
>
>
> September 15, 2008 06:01 CET
>
> FRANKFURT (Reuters) -- Porsche Chairman Wolfgang Porsche has gained
> majority
> support among the two clans that own his family's carmaker to remove cousin
> Ferdinand Piėch from his post as Volkswagen chairman, a German magazine
> reported.
>
> "It is not a question of 'if', rather 'when' and 'how'," Focus quoted one
> Porsche manager as saying.
>
> The news magazine report ahead of its publication on Monday comes after a
> turbulent VW supervisory board meeting on Friday, where Piėch broke ranks
> with the other three Porsche representatives on the board.
>
> Porsche had been quoted in comments made yesterday to Focus as saying of
> Piėch: "I am horrified by the behavior of the chairman."
>
> The challenge is the result of long-running tensions between Piėch, part
> owner of Porsche, and his cousin over control of Volkswagen -- their
> company's largest investment in which the sports car maker is poised to
> take
> the majority this year.
>
> Piėch, who has run Audi and Volkswagen as CEO before taking over as
> chairman
> in 2002, is a calculating strategist who has survived several coup
> attempts.
>
> His power base stems from close allies like VW CEO Martin Winterkorn and
> the
> unwavering support from VW's powerful unions, which oppose Porsche's
> attempts to limit their influence.
>
> Volkswagen declined to discuss the report while Porsche was not immediately
> available for comment.
>
>
>
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