During an extraordinary general assembly on June 26, 2007 in Stuttgart, the luxury German car manufacturer Porsche AG's shareholders gave the green light to the transformation of the company into a European Company (EC) through the creation of a holding company. That same day, the group's management and works council announced that they concluded an agreement on staff representation in the future EC. (Ref. 070573)
“June 26 marks a nick in Porsche’s history, high in traditions”, Wendelin Wiedeking, president of the car manufacturer’s board of executive launched to the approximately 1.500 shareholders present in Stuttgart. In the future, Porsche will be headed by a holding company, which will also aggregate the 31% Porsche holds at Volkswagen (see our story 70361). Granted the judicial EC status, this company will be named “Porsche Automobil Holding EC” and will have its headquarters in Stuttgart. Accordin
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