Volkswagen Controlling Families Call for Urgent Restructuring
2 sources across 2 countries · South Africa · United Kingdom
Who reported this
- Business Day
- Reuters
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
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The controlling families of Volkswagen have called for swift action and reform to ensure the company remains competitive. Hans Dieter Poetsch, the board chairperson of Porsche and representative of the Porsche and Piech dynasties, stated that the group is at a historic crossroads and that delays in decision making will exacerbate existing problems. Johannes Lattwein, the finance chief of Porsche, specifically urged the group to strengthen decision making, lower costs significantly, and reduce excess capacity. These demands come as the company seeks to fend off rivals from China. Additionally, Porsche reported a 14.5 percent drop in its adjusted half year earnings after tax to 949 million euros on Friday. Porsche holds a 31.9 percent stake in Volkswagen and a 12.5 percent stake in its sports car subsidiary.
How each side framed it
- Centre
- The center leaning coverage focused on the general call for swift action regarding the restructuring battle.
- Centre-right
- The center right leaning coverage framed the situation as a critical crossroads where management must act to secure competitiveness against Chinese rivals.
Sources
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