Porsche to VW Workers' Union: Piss-Off
Automotive News [AN sub] reports that Bernd Osterloh, the chief works council representative at VW, asked Porsche CEO Wendelin Wiedeking for a seat on the board of the newly-created Porsche Automobil Holding SE. The request which reflects the fact that Porsche now owns a 30.9 percent stake in Volkswagen. Wiedeking considered the request for just under femtosecond before rejecting it. In fact, Porsche's decision to place their VW stock in an European holding company was designed to avoid just such an eventuality. While German-incorporated companies have strict rules mandating employee participation, European companies have… none. But hey, you can't blame a guy for asking.