Volkswagen regroups MAN and Scania in a new holding
The German group just announced the creation of a new holding with MAN, Scania and Volkswagen AG, they will, however, keep their independence. The goal is to reinforce the truck's division against Daimler and AB Volvo.
On May 5th, 2015, Volkswagen AG announced the creation of a new holding for MAN Truck & Bus, MAN Latin America, Scania AB and Volkswagen AG. Named Truck & Bus GmbH, this new subsidiary will be managed by Andreas Renschler, who works for VW since February 2014, after working Daimler for nine years.
The entities in Truck & Bus GmbH
The CEOs of the four entities will be reprensented in the new structure's management, while the supervisory board will be managed by Martin Winterkorn, Chairman of the Vorstand . VW's involvement, 100% owner of Swedish manufacturer Scania, will be transfered toTruck & Bus GmbH, which already has 72,28% of the voting rights of German manufacturer MAN. MAN and Scania, however, keep their independence.
Coordinate strategies for development, the human ressources and the buying
This holding seems to be the group's answer to the structural problems raised by Ferdinand Piëch, ex-chairman of the supervisory board, who quit on April 25th, 2015, after losing the public confrontation he started with Martin Winterkorn. The group's goal is to maximise the synergies between the different makes, by coordinating their strategy for development, human ressources and buying. This new holding should also shorten the decision's process and speed up their application.
Volkswagen wants to be the truck's world leader
« Our goal is to bring the holding at the top of the industry in terms of profitability, technology and mostly client's satisfaction», said Andreas Renschler. This holding should allow European's biggest automobile manufacturer to reinforce its truck's division against its main competitors : Daimler and Volvo AB. For Martin Winterkorn, « MAN and Scania are two important and renowed makes worldwide, our goal is to become the world's leader in the truck and bus industry ».
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