Porsche Automobil Holding SE scored a victory in its battle against investors seeking a total of 5 billion euros ($7 billion) over claims the German carmaker lied during its failed bid to takeover Volkswagen AG in 2008.
Audi AG’s original TT won acclaim in 1998 for a sexy design that marked a departure from its styling at the time. Fifteen years later, Audi is counting on a remake of the iconic coupe to generate similar buzz.
Daimler AG nominated former Volkswagen AG Chief Executive Officer Bernd Pischetsrieder to the luxury-car producer’s supervisory board as VW hired a previous Daimler manager to run heavy-truck operations.
Seven hedge funds sued Wolfgang Porsche and Ferdinand Piech, members of Porsche Automobil Holding SE’s supervisory board, seeking 1.8 billion euros ($2.4 billion) of compensation over the aborted purchase of Volkswagen AG in 2008.
Volkswagen AG Chairman Ferdinand Piech and Chief Executive Officer Martin Winterkorn will probably stay at least until 2018 to push forward a growth plan, the automaker’s top labor representative said.
While Fiat SpA Chief Executive Officer Sergio Marchionne, 61, got the spotlight for the New Year’s Day swoop to secure full control of Chrysler Group LLC, a reserved 37-year-old will ultimately determine whether that transatlantic combination succeeds.