Vimeo
LinkedIn
Instagram
Share |

volkswagen

September 25, 2015

Martin Winterkorn may have survived an attempted leadership coup in April, which pitted third-generation chairman against non-family executive, but the Volkswagen CEO did not prove so resilient in the face of the corporate scandal currently rocking the carmaker.

Martin Winterkorn may have survived an attempted leadership coup in April, which pitted third-generation chairman against non-family executive, but the Volkswagen CEO did not prove so resilient in the face of the corporate scandal currently rocking the carmaker.

Today the family business is reportedly set to announce that Matthias Mueller, who current heads the company’s luxury Porsche brand, will take over the entire group.

Winterkorn had worked at Volkswagen since 1993, serving as CEO for the last eight years.

September 22, 2015

Family-controlled carmaker Volkswagen has admitted it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.

Family-controlled carmaker Volkswagen has admitted it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.

It faces an initial fine of $18 billion for the 11 million cars affected, equivalent to its net annual profits, but if further investigations find the rigging is more widespread this could rise.

The German carmaker posted revenues of €197 billion in 2013.

September 4, 2015

Lego posts double-digit growth across all territories; Novartis launches copycat cancer drug at 15% discount; and VW and Suzuki settle four-year legal dispute

VW and Suzuki settle four-year legal dispute

An international court has ordered German carmaker Volkswagen to sell its 19.9% stake in Japan’s Suzuki Motor, bringing to a close a four-year dispute between the companies.

The two automakers had accused each other of breaching their 2009 partnership agreement, which was intended to provide Volkswagen with greater access to India and Suzuki with new technology.

August 1, 2014

German family businesses are feeling the pinch from Russia’s confrontation with the West, particularly carmaker Volkswagen, who has reported an 8% year-on-year decrease in Russian sales. 

German family businesses are feeling the pinch from Russia’s confrontation with the West, particularly carmaker Volkswagen, who has reported an 8% year-on-year decrease in Russian sales.

With further sanctions on the horizon, Volkswagen, controlled by the Piech family, is just one of approximately 6,000 German family businesses operating in Russia that are expected to suffer from the incoming “level three” sanctions.

July 18, 2014

Murdoch merger rebuffed by Time Warner; Family-owned Fiat denies Volkswagen takeover bid and Bestway buy Co-op pharmacy in multi-million pound deal

Murdoch merger rebuffed by Time Warner

Rupert Murdoch’s 21st Century Fox has had an $80 billion (€59.1 billion) merger deal rejected by US rival Time Warner.

March 18, 2014

A court in Stuttgart, Germany, has dismissed a lawsuit brought against Porsche SE – the investment company that controls the eponymous German carmaker – by a group of hedge funds seeking €1.4 billion in damages. 

A court in Stuttgart, Germany, has dismissed a lawsuit brought against Porsche SE – the investment company that controls the eponymous German carmaker – by a group of hedge funds seeking €1.4 billion in damages.

The hedge funds claimed Porsche mislead the markets back in 2008 over its takeover plans for rival German car brand Volkswagen.

The Piech and Porsche families, who are descendants of Ferdinand Porsche, the carmaker's founder, control Porsche SE.

February 4, 2014

A €1.8 billion lawsuit filed by seven hedge funds against family business third-gens Wolfgang Porsche and Ferdinand Piëch for alleged market manipulation is without merit, according to Porsche – the family-controlled German car company.

A €1.8 billion lawsuit filed by seven hedge funds against family business third-gens Wolfgang Porsche and Ferdinand Piëch for alleged market manipulation is without merit, according to Porsche – the family-controlled German car company.

The group, including US hedge fund Elliot Associates, has initiated a civil case against the third-gens, grandsons of company founder Ferdinand Porsche, at Frankfurt’s regional court.

September 10, 2013

Volkswagen chairman, Ferdinand Piech, 76, has refuted speculation he is soon to step down due to poor health and has said he will serve out the rest of his contract.

Volkswagen chairman, Ferdinand Piech, 76, has refuted speculation he is soon to step down due to poor health and has said he will serve out the rest of his contract.

He made the statement to reporters at the Frankfurt car show in response to reports last week that company chief executive Martin Winterkorn was soon to takeover.

Piech’s contract, extended last year, runs into 2017.

It was rumoured that Volkswagen finance chief Hans Dieter Poetsch would replace Winterkorn until a longer-term solution was found.

August 1, 2013

Premium beer helps Anheuser-Busch InBev’s profits, Volkswagen increases share of car market, Polish market not as strong for Jeronimo Martins and slowdowns in solar and smartphone markets hit Wacker Chemie and Amkor Technology respectively.

Premium beer helps Anheuser-Busch InBev’s profits, Volkswagen increases share of car market, Polish market not as strong for Jeronimo Martins and slowdowns in solar and smartphone markets hit Wacker Chemie and Amkor Technology respectively.

Anheuser-Busch InBev

Family-controlled Belgian brewer Anheuser-Busch InBev has seen second quarter earnings rise 3.9% year-on-year to $10.6 billion ($8 billion). Revenue for the first half was $19.8 billion, up 2.7% on the previous year.

Click here >>
Close