“For me, the dual function was a requirement,” said Blume of “Bild am Sonntag”. “The two roles complement each other ideally: being closely involved operationally in the processes and technologies of a brand in order to make the right strategic decisions in the group.” In the meantime, the next hurdle in the planned IPO of Porsche could be cleared in the coming week.
Blume called it a “huge advantage” in the “Bild am Sonntag” that he had already worked for the four group brands Audi, Seat, Volkswagenvz and Porsche. “I have a large network, I know the strengths and weaknesses of VW exactly. That’s why I don’t need 100 days of training. On Thursday we started at full speed.” He did not start to cut jobs, said Blume. “It’s important to me to start with the products first.”
Volkswagen had already confirmed on Thursday that the board of directors, which had been expanded to a dozen managers at the beginning of 2022, would be trimmed again. Sales, procurement, production and development should therefore be merged into a kind of “synergy department” – this also operates as “extended group management”. This leaves a total of nine individual items at the top management level. Blume himself as chairman would “concentrate on strategy, quality, design and the software subsidiary Cariad,” it said on Thursday after a decision by the supervisory board.
The structural reorganization has almost no impact on staffing. In addition to Blume, the new VW main brand boss and coordinator of mass business, Thomas Schäfer, Audi and luxury class boss Markus Duesmann, the HR director and head of the truck division, Gunnar Kilian, and China boss Ralf Brandstätter remain at the top level. In addition, Legal Director Manfred Döss, Technical Director Thomas Schmall, IT Director Hauke Stars and CFO Arno Antlitz belong to the core team of the Group Executive Board. Antlitz is to temporarily fill some functions together with Blume, the reason for this is the possible IPO of Porsche AG in the coming months.
Volkswagen could get down to business on this important project as early as next week: As the company announced on Saturday, the board of directors and supervisory board will deal with the announcement of a possible IPO of the VW sports car subsidiary at the end of September or the beginning of September 2022 in their meetings on September 5, 2022 October. In addition, a decision should be made on the approval of the sale of a quarter of the ordinary shares plus one share in Porsche AG to VW-Holding Porsche SE. VW announced in February that it was considering such a step.
With the multi-billion dollar sale of the shares in the sports car manufacturer, the Porsche and Piëch families, who call the shots at Porsche SE, would receive a blocking minority at Porsche AG. Important decisions could not be made without them.
If both companies agree on this acquisition of shares, an IPO of Porsche AG would then depend, among other things, on the development of the stock market as a whole, Porsche SE announced.
No job cuts planned
Despite the conversion of production to electromobility, the new VW boss Oliver Blume is not planning any job cuts at the car company, as he told the picture on Sunday. “At Porsche we have built up staff with electromobility,” said Blume of the newspaper. “Attractive products are crucial. This creates economic success. And that secures jobs. He didn’t start to cut jobs, according to the VW boss. It’s important for him to start with the products first.
Rising energy prices could lead to price increases in some areas, but that varies from model to model and within brands, Blume said. The corona crisis, the semiconductor crisis and the Ukraine war have left their mark on the supply chains. VW also notices this in the production figures. “More cars are being ordered than we can produce. The long waiting times are annoying for customers, but they ensure full order books and production capacity utilization for the next few months.”
Despite increasing political tensions with China and further allegations of human rights violations in the Uyghur region of Xinjiang, Blume wants to hold on to the VW plant there: “It’s about taking our values out into the world. Also to China, also to the Uyghur region ” he told the newspaper. It is important to him “that we are equally well positioned in all three major sales markets of Europe, North America and China. We will repeatedly have to deal with geopolitical crises around the world in the coming decades.” In Russia, Volkswagen production was stopped due to the attack on Ukraine. Blume fully supports the EU sanctions: “We have to decide from situation to situation. It’s about values, not business figures.”
WOLFSBURG/STUTTGART (dpa-AFX) / Dow Jones Newswires
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