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Volkswagen: Difference between revisions
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== Management == | == Management == | ||
May 6, 2023: Volkswagen to fire all but one of the management members of its software division Cariad this week, people familiar with the matter said. The move comes after Cariad exceeded its budget and failed to meet its goals. Cariad problems have delayed releases of new models such as Porsche e-Macan and Audi Q6 e-tron<ref>https://finance.yahoo.com/news/vw-fire-top-executives-software-105750810.html</ref>. The officials to be ousted include Cariad's CEO Dirk Hilgenberg, CFO Thomas Sedran, and CTO Lynn Longo<ref>https://www.wsj.com/articles/vws-new-ceo-to-replace-management-of-ailing-software-unit-873b1f1b?siteid=yhoof2</ref>. | December 22, 2023: Volkswagen Supervisory Board agreed to tie the management board’s performance bonuses to the company’s absolute net cash flow from 2024, CFO Arno Antlitz announced in a LinkedIn post. The net cash flow metric will replace the “Operating Profit including China" metric and complement the “Return on Sales” and “Achievement of ESG Goals” metrics<ref>https://www.linkedin.com/posts/arno-antlitz_volkswagen-leadership-corporategovernance-activity-7143571682153168897-5kgJ/?utm_source=share&utm_medium=member_desktop</ref>. Plans to alter the management remuneration structure were first announced during the company’s capital markets day<ref>https://forum.investmentwiki.org/t/volkswagen-2023-capital-markets-day/46</ref>. ''Assessment (Aron): I think it’s a good idea to include cash flow as one of the performance metrics, especially since Volkswagen's net cash flow hasn’t performed so well this year. Also, the “operating profit” metric is already accounted for in “Return on Sales.” It’s also good to see Volkswagen implementing the plans announced on its capital markets day''<ref>https://www.mindmeister.com/app/map/3012835995?t=kh7Ocl8s85</ref>. | ||
May 6, 2023: Volkswagen to fire all but one of the management members of its software division Cariad this week, people familiar with the matter said. The move comes after Cariad exceeded its budget and failed to meet its goals. Cariad problems have delayed the releases of new models such as Porsche e-Macan and Audi Q6 e-tron<ref>https://finance.yahoo.com/news/vw-fire-top-executives-software-105750810.html</ref>. The officials to be ousted include Cariad's CEO Dirk Hilgenberg, CFO Thomas Sedran, and CTO Lynn Longo<ref>https://www.wsj.com/articles/vws-new-ceo-to-replace-management-of-ailing-software-unit-873b1f1b?siteid=yhoof2</ref>. | |||
=== Management Commentaries === | === Management Commentaries === | ||