Topic: More political drama brewing in the land of Volkswagen.

[mmret]

http://www.bloomberg.com/news/articles/2015-04-11/winterkorn-said-ready-to-fight-piech-to-remain-volkswagen-chief

Always fascinating stuff especially after 2008's debacle.

No real view except that Ferdinand Piech does not seem to be a guy you want to off.

Piëch has fathered 12 children with four different women, and is currently married to Ursula (Uschi) Piëch.[4] He is dyslexic,[4] an atheist,[5] and has a vast car collection that includes two Bugatti Veyrons that are regularly driven by him and his wife. An aggressive and demanding manager, Piëch's prolific firing of subordinates throughout his career has been legendary in automotive circles, particularly how he engineered the ousting of former Volkswagen CEO Bernd Pischetsrieder and Porsche CEO Wendelin Wiedeking.[citation needed] According to Piëch, he fires any subordinate who "makes the same mistake twice".[4]

[micha]

It's just the next chapter in a very long family feud. It has been going on for decades. Here is an article, that explains some of it:

http://www.spiegel.de/international/business/the-porsche-story-a-fierce-family-feud-a-637243.html

And yes, Piech is not the kind of guy you would want to off.

[redman]

When your born into the family. Ferdinand Piëch is the grandson of Ferdinand Porsche.

Well you know. With that kind of money and heir your called eccentric and able to rule as you like within the company.
His attitude would be altered if he was an appointed board member solely based on his credentials and capabilities.
He is an example of life in the real world for the fortunate connected few. Akin to royalty by blood.
His excerpts are not shocking considering.

[tooscoops]

douches are douches... no matter how much they are worth.

good luck to all his subordinates (and ex wives)

[johngenx]

douches are douches... no matter how much they are worth.

good luck to all his subordinates (and ex wives)

This.  Sounds like a total a$$hole.

[mmret]

When your born into the family. Ferdinand Piëch is the grandson of Ferdinand Porsche.

Well you know. With that kind of money and heir your called eccentric and able to rule as you like within the company.
His attitude would be altered if he was an appointed board member solely based on his credentials and capabilities.
He is an example of life in the real world for the fortunate connected few. Akin to royalty by blood.
His excerpts are not shocking considering.

I dunno....a royal swerver for sure but I wouldn't doubt the guy's capabilities and intelligence.

[redman]

When your born into the family. Ferdinand Piëch is the grandson of Ferdinand Porsche.

Well you know. With that kind of money and heir your called eccentric and able to rule as you like within the company.
His attitude would be altered if he was an appointed board member solely based on his credentials and capabilities.
He is an example of life in the real world for the fortunate connected few. Akin to royalty by blood.
His excerpts are not shocking considering.

I dunno....a royal swerver for sure but I wouldn't doubt the guy's capabilities and intelligence.

His actions are practically non questionable unlike an appointed member. His opportunity was through nepotism unlike many who had to earn the position.
I'm not denying that he may of learned a thing or two along the way (educated as an engineer) but his road to the top was paved and his actions come with little criticism unlike a non family member.

Just check out his poor decision to build The Phaeton.  http://en.wikipedia.org/wiki/Volkswagen_Phaeton

[tooscoops]

being raised with the business means you will have some ideas that maybe others won't... and you will see the inside workings and it will all be second nature...

but it doesn't mean you are better than someone from the outside who is properly trained and educated and is held accountable for their actions with actual repercussions.

[mmret]

Just check out his poor decision to build The Phaeton.  http://en.wikipedia.org/wiki/Volkswagen_Phaeton

Plenty of auto execs and management teams, whether they earned their positions through nepotism, talent, or politics, have made awful flops of cars.

Bottom line is that VWAG is on a tear and for us outsiders its impossible to say whether or not its the result of Piech or in spite of him. All else equal we should assume that its at least partly because of him.

[Snowman]

Captain Kirk drives a Phaethon, it has to be good 

[redman]

Under the stipulations presented in the will, Mrs. Piëch is not allowed re-marry or divorce Ferdinand after he passes on. If she does go out and find a new hubby, she gives up control of the foundations.

That's right, he wants control even after he is dead.

[SaskSpecV]

Hmmm, looks like the big guy lost out.  Maybe that's bound to happen when EVERY ONE of your stakeholders disagrees with your position...

http://www.thetruthaboutcars.com/2015/04/breaking-piech-resigns-chairmanship-winterkorn-continues-ceo-vw/#more-1054273

[Julie]

douches are douches... no matter how much they are worth.

good luck to all his subordinates (and ex wives)

This.  Sounds like a total a$$hole.

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