Volkswagen faces resistance to set a merger between Scania and MAN

Article by Christian A., 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.

If you liked the article, share on:

Topics: vw

Comments

Recommended

November 17 is considered a very special day for Tesla, as this is the day that they revealed the highly anticipated Tesla Semi. But Elon Musk did not think the...
by - November 17, 2017
More details have emerged about the new sixth generation of the BMW M3 just as the German premium practically announced the end of the current-gen 3 Series with the unveiling...
by - November 17, 2017
All is set for Volkswagen’s plans to enter the electric vehicle game, as prompted by the so-called Dieselgate scandal. In fact, the German carmaker has already made a commitment to...
by - November 17, 2017
As BMW has already revealed, the next generation of the BMW M5 (F90) is a four-wheel drive high-performance sedan with overwhelming power output and torque at its disposal. However, it...
by - November 17, 2017
McLaren unveiled a one-off Gold - on - Black 720S at the 2017 Dubai Motor Show which will be on display throughout the entire stretch of this week’s event. The...
by - November 16, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries