No Seat For VW On Porsche's Board!

[RICHBOY]

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- ONLY REGISTERED AND ACTIVATED USERS CAN SEE ALL LINKS - CLICK HERE TO REGISTERThere's no record of VW actually asking for one, but in case they wanted a seat on Porsche's management board, Porsche has said, "Uh, nein." That's the word from Porsche Automobil CFO Holger Härter, who forms half of the management board. The other half is Porsche CEO Wendelin Wiedeking. Nor will the company's charter and co-determination agreements be altered. He did, however, open the door to adding more members in the future.
The worker's board will remain three Porsche and three VW reps, even should Porsche up its stake in VW to 51-percent. Porsche currently owns 31-percent, but if the European Court of Justice strikes down the so-called Volkswagen Law that limits a shareholder's voting stake, it will move to take control of VW.

[Centurion]

Good! I want Porsche to maintain their 100% control over the company with no external influences.

[EnI]

Mind we are talking about Porsche Automobile Holding SE here, not the Dr.ing.h.c. F. Porsche AG - the core Porsche company.

The Holding will be a parent company - owning 100% of PAG, and at least 31% of VAG (PAG shareholders will exchange their shares for PAH shares in 1:1 ratio).
The operative businesses (=PAG & VAG) will remain relatively independent. Relatively because VAG will definitely be influenced by PAG, while no influences in the opposite directions are expected.

So, PAH will be managed by PAG managers, while VAG managers will have no role in PAH management board.

[RICHBOY]

Originally Posted by EnI

Mind we are talking about Porsche Automobile Holding SE here, not the Dr.ing.h.c. F. Porsche AG - the core Porsche company.

The Holding will be a parent company - owning 100% of PAG, and at least 31% of VAG (PAG shareholders will exchange their shares for PAH shares in 1:1 ratio).
The operative businesses (=PAG & VAG) will remain relatively independent. Relatively because VAG will definitely be influenced by PAG, while no influences in the opposite directions.

So, PAH will be managed by PAG managers, while VAG managers will have no role in PAH management board.

Damnit EnI I'm sick of you acting like you know what your talking about!

[Centurion]

Originally Posted by EnI

Mind we are talking about Porsche Automobile Holding SE here, not the Dr.ing.h.c. F. Porsche AG - the core Porsche company.

I know, which I why I'm very happy about this. Porsche are going to be untouchable while VAG will have beg on their needs in order to get their wishes and requests through.

[EnI]

Originally Posted by RICHBOY

Damnit EnI I'm sick of you acting like you know what your talking about!

I'm not acting at all. I just deliver you more precise info.
Everything have been published a few days ago already in German financial press.

[RICHBOY]

Originally Posted by EnI

I'm not acting at all. I just deliver you more precise info.
Everything have been published a few days ago already in German financial press.

Just foolin with ya..

[EnI]

Originally Posted by RICHBOY

Just foolin with ya..

I know you are.

But someone else can get an impression I'm making all up.