Not the official Rennteam commentary (which will come from RC) but just my personal thoughts....

I think we all knew something like this was coming but the sudden announcement still managed to take my breath away.

On the one hand WW turned around the company when it was in deep financial difficulty with the creation of the life-saving Boxster and Cayenne models (in particular, the Cayenne tapped into the massive growth in demand for SUVs). WW introduced more modern production methods (learned from Toyota) to improve efficiency. His way of running PAG was focussed on improving profitability by raising quality and efficiency and by reducing costs. Some of his decisions on new models no doubt upset the purists: water-cooled engines, Cayman & Panamera etc. And then, while other car makers were suffering or making small profits, PAG made billions of Euros through non-car related financial activity.

And then the other side of the coin. A lot of this non-car related activity involved high-risk financial trading for the purposes of acquiring VW. The reason given was that this would secure the future of PAG since it was reliant upon its relationship with VW for models like the Cayenne/Toureg platform etc. BUT one cannot help but think there was more to it than this.

The attempt to obtain control over VW failed because of the severe changes in the financial markets (since Q3 2008) and also the fact that the VW law (although ruled illegal under EU law) was never abolished. WW's high risk strategy failed leaving PAG deeply in debt and which is now costing PAG its independence. And this failed power play has cost WW his position.

The departure of WW is a major development (with obvious consequences for the model range and the future direction of the company) but the loss of independence is the most significant aspect to digest. It's a landmark day in PAG's long history.

Just my personal view...


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Rennteam Moderator - 997.1 C2S Coupe GT Silver/Cocoa, -20mm/LSD, PSE, SportDesign rims, Zuffenhausen collection