Volkswagen faces resistance to set a merger between Scania and MAN

Article by Christian Andrei, on June 24, 2011

Volkswagen AG is facing criticisms from its investors and workers regarding its efforts to create a commercial-vehicle alliance between Man SE and its Scania AB affiliate.

Supervisory board members who represent MAN employees are resisting the plans to bring additional VW executives at the German truckmaker, according to two insider sources who are familiar with the situation.

On the other hand, investor watchdogs such as Institutional Shareholder Services are joining the opposition ahead of MAN's annual shareholder meeting on June 27.

Nicola Lopopolo, one of the 16 members of the MAN board and the head of the works council of the Munich-based company's RENK AG unit, commented that some heated debate at the shareholder meeting about corporate governance rules will probably be seen.

Chairman Ferdinand Piech of both VW and MAN plans to appoint three new executives from VW to MAN's board, expanding the automaker's representation to five members, or at least half of the investor seats.

The tighter control is part of a strategy to outperform Toyota Motor Corp. as the largest automaker in the world by 2018 by creating a manufacturer of vehicles that range from subcompacts to 50-ton trucks.

On top of adding board members, the company also intends to switch Ulf Berkenhagen, procurement chief at VW's Audi unit and a member of MAN's board, to the truckmaker's management team, according to individuals familiar with the situation but requested anonymity due to the confidentiality of the matter.

Topics: vw

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