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Volkswagen shareholder urges against reelection of Wolfgang Porsche
(MENAFN) A top shareholder in Volkswagen is urging investors to vote against the reelection of Wolfgang Porsche as a member of the carmaker's supervisory board at its annual general meeting (AGM).
Christian Strenger, the shareholder, has accused Porsche of "ongoing conflicts of interests" because he is also chairman of the board of Volkswagen's controlling shareholder Porsche Holding SE.
He also accused him of "inaction in pursuing misconduct" by the company's top managers over its diesel emissions scandal.
Strenger is a small shareholder, but an important voice in Germany as a former and founding member of the government's Corporate Governance Commission, as he was previously a chief executive officer of DWS, the asset management arm of Deutsche Bank.
Christian Strenger, the shareholder, has accused Porsche of "ongoing conflicts of interests" because he is also chairman of the board of Volkswagen's controlling shareholder Porsche Holding SE.
He also accused him of "inaction in pursuing misconduct" by the company's top managers over its diesel emissions scandal.
Strenger is a small shareholder, but an important voice in Germany as a former and founding member of the government's Corporate Governance Commission, as he was previously a chief executive officer of DWS, the asset management arm of Deutsche Bank.
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