Volkswagen AG plans to take over all Audi shares and to place Audi at the head of Volkswagen Group development
Dr. Herbert Diess, Chairman of the Board of Management of Volkswagen AG and Chairman of the Supervisory Board of Audi AG: Given the strong dynamics of change in our industry, we are pooling our strengths in the Volkswagen Group and positioning ourselves competitively for the future. Going forward, the Audi brand with Markus Duesmann as its new CEO will take over the lead for research & development in the Volkswagen Group and thus swiftly assume technical leadership.
As part of the realignment of competences and responsibilities, Volkswagen AG is planning a squeeze-out according to German stock corporation law to increase its shareholding in Audi from the present 99.64 percent to 100 percent.
AUDI AG will continue to be a stock corporation. A resolution on the squeeze-out according to German stock corporation law is to be passed by this year’s Annual General Meeting of AUDI AG. In light of this, the Annual General Meeting of AUDI AG, which was originally scheduled for May 14, 2020, will be postponed until July or August 2020.
Feb 29, 2020 at 00:08