From AutoBeat Daily 10/01/07
"PORSCHE CEO PUSHES CHANGES AT VW. Porsche
AG CEO Wendelin Wiedeking says his company expects
a lot of changes at Volkswagen AG, in which Porsche
owns a 27.4% stake.
Speaking to reporters at the North American
International Auto Show yesterday, Wiedeking said VW is a
gold mine that needs a push to boost its lagging perfor-
mance. He said he expects more management changes
there, but wouldnt comment on whether VW brand chief
Wolfgang Bernhard will, or should, stay. Porsche engi-
neered the November coup that replaced CEO Bernd
Pischetsrieder with Audi chief Martin Winterkorn.
Wiedeking says Porsche isnt planning a merger,
and he denies interest in running both companies or
becoming VWs CEO. Rather, he repeats Porsches
rationale in becoming VWslargest shareholder: to share
the expense of technology development with a mass-
market automaker.
Wiedeking and Porsches CFO also are members of
VWs board, and he says Porsche wants at least one more
seat. VWs board, which is holding committee meetings
today, meets as a group tomorrow. "
AutoBeat Daily 12/01/07
"BERNHARD EXITS AS NEW CEO SHAKES UP VW
MANAGEMENT. Confirming weeks of speculation,
Volkswagen AG says Wolfgang Bernhard, who has headed
its VW brand for two years, will leave the company at the
end of the month.
The announcement came yesterday as new CEO
Martin Winterkorn announced a reorganization of the
automakersstructure that would have stripped Bernhard
of much of his power. Winterkorn says he will assume
responsibility for the VW brand and the newly created job
of head of R&D.
The big question is what Bernhard will do next.
Analysts believe DaimlerChrysler CEO Dieter Zetsche
would welcome the return of his former No. 2 at Chrysler
Corp. VW insiders suggest Bernhard may have negotiated
an exemption from VWs rule that bars departing execu-
tives from working for a rival for two years.
Some observers speculate Bernhard could become
head of the Mercedes Car Group, a job Zetsche has been
filling temporarily. However, the brash cost-cutter clashed
with the groups labor representatives in the past.
Others predict Bernhard will return to head Chrysler
Group, where current CEO Tom LaSorda has been strug-
gling with big losses and slumping sales. Zetsche has
repeatedly voiced support for LaSorda.
Meanwhile, VWs board approved Winterkorns plan
to realign the automakers managers along functional
lines instead of by brand. Jochen Heizmann, Audis
production chief, takes the new job of production czar.
VW says it will name a sales chief later. Brands will be
managed individually. "
