Bild: Volkswagen shareholder families close ranks ahead of AGM

by SpeedLux
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The Piech and Porsche who manage Volkswagen showed unity ahead of next week’s yearly general meeting, daily Bild reported, just as the carmaker is remodeling its company following diesel emissions scandal.

In an interview released in the German tabloid’s Friday edition, supervisory board members Wolfgang Porsche and Hans Michel Piech dismissed reports that alleged the two effective family clans were not acting in show.

“There can be no talk of quarrels,” Piech informed Bild. “We deem contentious disputes to be ideal in a huge investor family.”

Sources had formerly suggested Reuters that members of the households, who manage a 52 percent stake in Volkswagen through holding company Porsche SE, considered requiring the dividend to be scrapped at next week’s annual investor meeting, a move that would protest Volkswagen’s supervisory board.

But a spokesperson on Thursday said Porsche SE had chosen to vote in favour of the proposition by Volkswagen’s boards to pay a small dividend, and had cancelled a supervisory board meeting of Porsche SE that had actually been required Monday to discuss it.

Furthermore, Porsche and Piech voiced their support for supervisory board Chairman Hans Dieter Poetsch in the interview, calling him the right person for Volkswagen in hard times.

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