Dusseldorf The most important project of the year was subject to special secrecy in Wolfsburg: the planned IPO of Porsche. A special board committee for the secret project “Phoenix” was set up with group boss Herbert Diess, CFO Arno Antlitz and labor director Gunnar Kilian. All information ran exclusively through the special committee, other board members were not in the know.
By Tuesday morning, the secrecy was over. At 9:42 a.m., Volkswagen issued an ad hoc announcement that officially confirmed the stock exchange plans for the Stuttgart subsidiary for the first time. There is even a key point agreement “which should form the basis for the further steps to prepare for a possible IPO”. Some details about the supervisory board had leaked out in advance, so Volkswagen had to react with the ad hoc announcement.
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