General meeting
VW shareholders demand flower withdrawal from Porsche tip
He is at the top of two DAX companies: Porsche and VW boss Oliver Blume. VW shareholders is a thorn in the side. At the Annual General Meeting, you call for an end to the double role. Flower waves off.
VW shareholders are calling for the withdrawal of CEO Oliver Blume from the Porsche tip. In view of the crisis of both companies, the top manager should choose to lead one of the two troublesome DAX companies, Ingo Speich from Fondsgesellschaft Deka said at the virtual VW general meeting. “They are in the crossfire of interests and their day has only 24 hours.”
To pull the rudder around at Volkswagen, he had to concentrate on one of the two tasks, said Speich. “You have to have both hands at the wheel, and that’s not the case at the moment.” Criticism also came from other shareholders: Volkswagen only had one part-time boss with Blume “who grow the problems over his head,” criticized Janne Werning from the Union Investment. This double role should be ended immediately, Hendrik Schmidt demanded from the fonser provider DWS.
Blume: “Double role is a recipe for success”
Blume himself made this cancellation. “The double role is a recipe for success,” he said. “Especially in time -challenging times, the advantages outweigh.” But it is also clear: “The double role is not put on forever.” In the end, however, the Supervisory Board must decide.
With a view to the location of the VW group, Blume spoke of further challenging framework conditions. “We are currently experiencing a world in rapid change.” In addition, President Donald Trump’s customs policy would now be given new uncertainty in the US business.
New plan for US business
Blume announced a measure plan for the North America business where we are now working on. As early as this year, US daughters would be excluded from the group’s diversity goals, the legal board announced Manfred Döss. Trump calls for an end to such programs to promote disadvantaged groups of people.
Speculation about Blume’s double role had recently received new food by several changes to the Porsche board. CFO Lutz Meschke, who was previously considered a crown prince in Stuttgart, was replaced. The new vice -chief becomes development board member Michael Steiner, who gives the management of group development in Wolfsburg. This had triggered speculation that flower could prepare his successor in Stuttgart.
dpa
Source: Stern
