Supervisory Board of the week: Wolf-Michael Schmid (Traton)

VW

Volkswagen is pushing ahead with the IPO of its Traton truck division: Hans Dieter Pötsch’s Supervisory Board is to deal with the issue at an extraordinary meeting before Christmas; the appointment of the Traton Supervisory Board is also on the agenda. And according to a report in the Handelsblatt, a place is reserved there for Wolf-Michael Schmid: Accordingly, Lower Saxony has opted for the entrepreneur and former president of the Braunschweig Chamber of Industry and Commerce instead of sending a minister or state secretary.

Five VW managers, one Piëch and one Porsche

Schmid, in the second generation of his family, runs a family business with around 125 full-time employees specializing in the automotive aftermarket sector. The Handelsblatt writes that the personnel should prevent a valuation discount that would have threatened a politician on the supervisory board. According to the report, the three VW board members Gunnar Kilian, Hiltrud Werner and Frank Witter as well as Supervisory Board Chairman Pötsch and Chief Justice Manfred Döss will join Schmid on the Traton Supervisory Board. The owner families will be represented by real estate expert Julia Kuhn-Piëch and neurologist Christian Porsche.