Finally, Volkswagen Directors are taking their responsibilities seriously and standing up to a clearly overbearing chairman who thinks he can do anything he pleases. Or is this just another local political battle between Piech and the head of Lower Saxony....unfortunately, most likely the latter.
Onésimo Alvarez-Moro
See article:
Directors at Volkswagen will attempt to oust Ferdinand Piëch as chairman of Europe's biggest carmaker on Monday in a rebellion against plans by Porsche which Mr Piëch's family controls to extend its influence at VW.
One supervisory board member and another person close to the board said five of the 10 shareholder-directors were likely to rebel, in addition to the two representatives of Lower Saxony, VW's home state and its largest shareholder.
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