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Volkswagen AG will not have on board more Porsche-Piech family

Ferdinand Piëch Grupo Volkswagen

Group Volkswagen AG is one of the rarest moments and hard who remember living in decades. The Dieselgate has steamed up the work that had been doing the German conglomerate for years. His arrival at the number one world is at stake, because this situation could still lead to one or another problem in some countries. It is also the economic situation because, by rigging their diesel engines emissions, they will have to pay large amounts of money in fines, compensation and other purposes.

If all this were not enough, a few weeks ago Ferdinand Piëch (grandson of Porsche and one of the controlling shareholders of Volkswagen AG) announced that it would sell its shareholding in the company package. This news derives directly from the scandal of the emissions and has brought with it another novelty that will change the course of the German group because it has a lot to do with who will manage the future of the same.

Grupo Volkswagen Winterkorn vs Piech

Mix family and business is less complicated, but Volkswagen worked well until the Dieselgate. Therefore, after the departure of Piech’s shareholders has come to the fore Wolfgang Porsche (Ferdinand’s cousin) to make the following statement. According to Porsche henceforth no member of the family may choose to sit in a position of management or in Volkswagen AG as a group or in any of the subsidiaries that owns the Consortium.

This Solomonic decision is to put a stop to the problems in the Group. These are based on family ties, as the two major factions that compose the Board of Directors are facing each other for years and this could harm the future of the German consortium. Especially when the actions of Ferdinand have finished in the hands of his younger brother, Hans Michel, and not in the possession of a third that could have alleviated the pressure.

The reason given by Hans Miche Piech to establish this new control system in the company is due to successes that Porsche is reaping. The firm is no longer controlled by relatives and by both business objectivity that can have a third party is greater than which can have a family and not mixing business with a heart.

What will happen in the future? We don’t know, but This is beginning of a new era in the Group Volkswagen AG.

Source – group Volkswagen AG

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