Volkswagen shareholder not supporting reelection of Wolfgang Porsche to board

Wolkfgang Porsche

A major Volkswagen shareholder is prompting investors to vote against the reelection of Wolfgang Porsche as a member of the automaker’s supervisory board at its annual general meeting (AGM), a German newspaper noted on Sunday. The shareholder, Christian Strenger, alleged Porsche of “ongoing conflicts of interests” as he is also chairman of the board of […]

Opel CEO Karl-Thomas Neumann to resign after sale to Peugeot

Karl-Thomas Neumann

The CEO General Motors’ European subsidiary Opel, Karl-Thomas Neumann, prepares to resign as GM prepares to sell the company to France’s PSA Group, Frankfurter Allgemeine Sonntagszeitung (FAS) reported on Saturday. Without mentioning its sources, the newspaper stated that while Neumann sees the sale to PSA as the best tactical action, he is concerned that the […]