Martin Winterkorn Removal: Ferdinand Pichs word is law

April 14, 2015

Little time? At the end of the text’s a summary.

If you want to measure the Machtflle a visitor at Volkswagen, have to look at the insulated floor. If ankndigte Ferdinand Pich so it tell about people like VW, was the cleaning crew in advance angerckt at several days with special cleaning Gert to bring everything to a high gloss. During a visit by his cousin Wolfgang Porsche however, one dignity shortly before his arrival only once briefly look if everything is in order.

Whether the story is true or well invented – but that it will spread and believed in Wolfsburg, is a fairly accurate indication of the Machtflle that Pich has angehuft at Volkswagen.

As far as the arm of the VW patriarch enough that proves his words ausgefhrter in droughts frontal attack on CEO Martin Winterkorn . “I am to distance Winterkorn,” Pich had declared Opposite on Friday SPIEGEL. In other Grokonzernen so wre a coup hardly possible.

When Volkswagen so heard a contrast to the normal behavior tools of the Supervisory Board, DAFR Pich delivered in the past on several occasions the proof. Pischetsrieder had to leave the Group as well as the former Porsche CEO Wendelin Wiedeking and VW board member Wolfgang Bernhard – just because Pich lowered his thumb.

Now, the conflict should be zurckverlagert to where he actually hung honors – the supervisory board of the car company. He wants deal on a hastily arranged meeting with the dispute between the Patriarch and the Crown Prince. “You try to come at different levels in the conversation,” a person familiar with the discussions person told Reuters on Tuesday. Several board members mhten behind the scenes to ensure an orderly debate. Even from a meeting of the Haupteigentmer VW – the Eigentmer families Pich and Porsche – and a Vieraugengesprch of Pich and Winterkorn was talk. Will confirm that in the corporate headquarters, however, no one.

The time drngt: Fri, 5 May, the Annual General Meeting of Volkswagen recognized. And Pich and winter grain together on stage? The present seems hard to imagine.

Clear Mehrheitsverhltnisse

It is still difficult to see from the outside, like the poker will end. “In brsennotierten corporations, the Supervisory Board decides about the identity on the board,” explains Jochen Hell, expert on corporate law at the law firm Dornbach. “If a member wants to enforce a decision, it is necessary to find the appropriate DAFR majority on the committee.” At VW, the case was, however, especially insofar as the majority are very clear order.

So Bright says the nearly 51-percent share, which secures the Pich / Porsche clan a berwltigenden influence in decision making. In addition: “The state of Lower Saxony owns 20 percent of VW shares and has a veto, and the Qatar Holding features on 17 percent – that makes the assignment of the Supervisory Board as clear as in any other public company.”

Ultimately, Hell, “the Eigentmer decide in which direction they want to control their company, and then seek consensus with the employees. This is by Volkswagen as well as in other DAX companies”.

must also Pich majorities search

Volkswagen However, it must
Chart zeigen Pich also search for majorities. First of all, in his clan, because the families are contractually obligated to agree on a common line before voting on the Board. The Porsches are about the Volte against Winterkorn little excited, if only because they were of them obviously surprised as the CEO himself. In the end, as the observers agree that relatives wrden but follow Pich, when he presents an alternative candidate. One berzeugenden solution will subsequently also the other shareholders and the employee does not oppose.

That leichtfllt him the majority of search, Pich owes not only his unconditional will to succeed, but also many right decisions in the past.

summary: To dismiss the incumbent CEO Martin Winterkorn, chairman of the board Ferdinand Pich must get together a majority in the Control Panel. What matters is whether he collects the families Porsche and Pich behind. This is so far succeeded in all important decisions.

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