Following is a letter sent to the Financial Times Editor and published one day later:
Sir, It is good to see that, despite Volkswagen’s recent run ins with the legal authorities and its disagreements with its main shareholder, Lower Saxony, it is good to see that it continues to make strategic decisions such as the disposal of its IT services unit (“VW close to agreeing deal for Gedas IT” FT December 15).
Volkswagen has one strategic decision that it should consider and that would lead to significant improvements. Given its performance to date, the company should outsource its board.
Onésimo Alvarez-Moro
See article:
Volkswagen, Europe's largest carmaker, is expected to dispose of its IT services unit in the coming days while its car rental business has attracted a number of initial bids from private equity and strategic buyers.
The deals could bring VW up to €3bn ($3.6bn) to help pay for restructuring. The German carmaker is thought to be planning to cut up to 30,000 of its 103,000-strong workforce in the country and is reviewing the future of several factories, especially those that produce components where far greater outsourcing is likely.
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