VW Chairman Admidts Mistake In Leadership

VW Chairman Admidts Mistake In Leadership
Volkswagen's (VOWG.DE: Quote, Profile, Research) controversial chairman, Ferdinand Piech, acknowledged on Thursday to making a rare mistake in anointing Bernd Pischetsrieder his successor as chief executive five years ago.

Addressing shareholders who demanded an explanation for the board coup in November that sacked Pischetsrieder, Piech expressed regret for not installing top lieutenant Martin Winterkorn as CEO in 2002 due to their friendship.


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quizzquizz - 4/20/2007 2:58:43 PM
+1 Boost
Leadership is everything.


izfuneyizfuney - 4/20/2007 5:42:03 PM
+2 Boost
The guy who brought you the VW phaeton and bought Bentley, Lamborghini and Bugatti in a moment of monumental egositic hubris .. shafts the guy who saved VW's bacon .
Mr Piech, VW was once beloved in Europe because it poured its energies in making some of the best cars for the masses. The Golf's, GTI's of yesteryears were priced competitively and the mainstays of your brand. Leave the luxury to Audi and frankly for the investment Lamborghini and Bugatti havent quite been the return you expect.


S4cabriofoxoneS4cabriofoxone - 4/20/2007 9:56:22 PM
0 Boost
I agree with you on the VW/Audi issue... but disagree on Bentley, Lamborghini. If I am correct, Lamborghini has been profitable under Audi- and Bentley, under Volkswagen. If not, they are on their way, quickly. IMO over the last five years, the two brands have had the most significant advancements than they have had in decades. All thanks to VW and Audi.

Bugatti is flushing money down the toilet, and the Veyron should have a short run. I agree with Wiedeking (Porsche CEO, frequent VW boardroom visitor) that Bugatti should be limited to coach-built one-offs. As amazing as the Veyron is, it's ridiculous. On the other hand, I think Wiedeking is an idiot for wanting Lamborghini gone- it's very selfish. Porsche and Lamborghini can co-exist!


S4cabriofoxoneS4cabriofoxone - 4/20/2007 9:57:28 PM
0 Boost
"...the two brands have had the most significant advancements THAT they have had in decades..."

SPELL CHECK.


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