Christian Wulff, the premier of Lower Saxony which is the second biggest shareholder in Volkswagen, will meet the carmaker’s largest institutional investors by the end of February to gauge their support in his battle with Ferdinand Piëch, VW supervisory board chairman.
Mr Wulff will meet US investors including Brandes Investment, Capital Group, Templeton and Tweedy Browne – who together represent nearly 15 per cent of VW’s share capital – ahead of May’s annual meeting, corporate governance experts and shareholders said.
Mr Wulff has declared himself opposed to Mr Piëch, who is also a large investor in Porsche, the sports carmaker which recently became VW’s biggest shareholder with 18.6 per cent. Lower Saxony holds an 18.2 per cent stake.
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