Porsche and Piech families bury the hatchet, will probably be dug up again…

Monday, November 3rd, 2008...8:53 pm

Porsche and Piech families bury the hatchet, will probably be dug up again…

Dr. Wolfgang Porsche, the head of Porsche Holding, and Porsche’s group works council chairman Uwe Huck took time to answer Porsche staff questions about the impending takeover of VW. It appeared to go well enough: Wolfgang said the Porsche and Piech families met, and Ferdinand Piech, the head of VW, “clearly stated that he unreservedly supports the course of Porsche Automobil Holding SE in all points and is fully and entirely behind the chairmen.” It was also said that Piech did not support the committee formed to approve Porsche and Audi cooperation, that the co-detemination agreement between Porsche and VW would remain fair to the larger and smaller company, and that the VW Law would be struck down.

The only thing missing from the love fest was… Ferdinand Piech. The VW chief and supposed cause of much of Porsche’s troubles didn’t attend — his sentiments were conveyed by Dr. Porsche with peculiar phrasing. For instance, even though Porsche said Piech didn’t approve of the technology sharing committee, Piech purposely didn’t attend the meeting that cast the votes. It all sounded good, but until Piech is forced to sit down in public and decide one way or another, we’ll wait for the next turn in the soap opera before we assume everything is safe. You can check out the details of this latest turn in the press release after the jump.

[Source: Porsche]

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Porsche and Piech families bury the hatchet, will probably be dug up again… originally appeared on Autoblog on Tue, 28 Oct 2008 07:57:00 EST. Please see our terms for use of feeds.