Audi AG, the world’s second-largest maker of luxury cars, said high-performance cars like the RS5, as well as the new version of the A3 compact, will help propel sales this year amid intensifying economic headwinds.
The decision by Deutsche Lufthansa AG’s supervisory board to back Wolfgang Mayrhuber’s aspirations to become chairman against investor opposition shows the hurdles in dismantling the chief executive-to-chairman German model.
Hedge funds and institutional investors seeking 4 billion euros ($5.2 billion) from Porsche SE over its failed takeover of Volkswagen AG may be hoping, unlike most plaintiffs, that three German civil court suits take a long time to resolve.
Volkswagen AG nominated Ferdinand Piech for a third term as supervisory board chairman and proposed that his wife join the board as the Piech-Porsche family solidifies its sway over Europe’s largest carmaker.
Ferdinand Piech, the mastermind of Volkswagen AG’s strategy to become the world’s biggest automaker, has the support of the German company’s supervisory board for a third term as chairman, according to two people with direct knowledge of the situation.