Volkswagen Supervisory Board Meeting Monday To Discuss New Chairman

Cameron Aubernon
by Cameron Aubernon
volkswagen supervisory board meeting monday to discuss new chairman

A week after Volkswagen Group chairman Ferdinand Piëch quit his post, the company’s supervisory board will meet Monday to discuss finding a replacement.

The 20-member board, led by interim chairman Berthold Huber, will meet in Hanover, Germany prior to Tuesday’s shareholder meeting to discuss candidates suitable for the vacated role, Reuters reports. A source close to the issue says a decision isn’t likely today, however.

Though Huber is leading the search, the former IG Metall boss isn’t up for consideration to helm the company permanently. Whoever is chosen for the role, though, “needs a high degree of automotive expertise and authority,” and would ideally be a VW outsider who can govern neutrally, according to Union Investment fund manager Ingo Speich, whose group holds 0.6 percent of VW preference shares.

As for who is up for consideration, speculation points to Continental AG chairman Wolfgang Reitzle and Porsche SE chairman Wolfgang Porsche; VW and its works council have not commented on potential candidates as of this writing. Reitzle was recently suggested by Piëch to fill his vacated seat on the board alongside former Siemens manager Brigitte Ederer instead of the board’s choice of his two nieces, a move the former chairman opposed.

[Image credit: Volkswagen]

Join the conversation
  • Corey Lewis Corey Lewis on May 04, 2015

    I don't quite understand the relationship between VW, Porsche, Audi, Lamborghini, and Skoda. Seems like I recall Porsche tried to "take over" VW not long ago? Obviously VW is at the top, but their management structure eludes me. --- What they -should- do (but won't) is hire someone Japanese to teach them about manufacturing quality product, and to teach them about what Americans want, because it's clearly beyond them.

  • Sportyaccordy Sportyaccordy on May 04, 2015

    Why do I feel like a Porsche family member heading the VW board would be hugely ironic?

    • See 1 previous
    • Lichtronamo Lichtronamo on May 04, 2015

      Why? Piëch is a member of the Porsche family (Ferdinand Porsche's grandson) and the Porsche/Piëch family own majority interest in VW through Porsche Holdings SE.

  • SCE to AUX SCE to AUX on May 04, 2015

    The new chairman "would ideally be a VW outsider who can govern neutrally", says the outsider who owns 0.6% of VW preferred stock. But that isn't what VW will get. Without courageous leadership, VW is at risk of going the way of Peugeot and Suzuki in the US market. But then again, maybe it doesn't really matter since the US market was only 3.6% of VW's sales in 2014.

  • Wmba Wmba on May 04, 2015

    With 130 plants worldwide and 550,000 employees, they should be able to find someone who's all trousers, self-absorbed, a self-admitted marketing genius and dismissive of other's ideas. Or, they could just hire BTSR.

    • Lorenzo Lorenzo on May 05, 2015

      Sounds like Sergio Marchionne and his marketing chief, Oliver Francois combined. Maybe a merger with FCA would work out?