Cake toss and heckling at VW shareholders’ meeting
Human rights groups and climate activists disrupted Volkswagen’s shareholders’ meeting and at times sparked riots. Representatives of a group shouted during the CEO’s speech Oliver Blume slogans and held up banners. A poster read: “End Uyghur forced labor at VW”.
A person tried to throw a cake at the supervisory board member Wolfgang Porsche, who was celebrating his 80th birthday on Wednesday, during the annual general meeting. The cousin of the company patriarch Ferdinand Piech, who died in 2019, is the head of the supervisory board of the family holding Porsche SE, which holds the majority in Volkswagen.
A person tried to throw a cake at the supervisory board member Wolfgang Porsche, who was celebrating his 80th birthday on Wednesday, during the annual general meeting. The cousin of the company patriarch Ferdinand Piech, who died in 2019, is the head of the supervisory board of the family holding Porsche SE, which holds the majority in Volkswagen.
The demonstrators were led by employees of a security service from the hall in Berlin’s City-Cube, where the shareholders’ meeting took place. Chairman of the Board Hans Dieter Poetsch asked the protesters several times to refrain from disruption. He was initially shocked when the cake was thrown at Porsche, but then continued his introductory speech at the beginning of the general meeting, outwardly unimpressed. CEO Oliver Blume, who faced the shareholders at the general meeting, did not respond to the demonstrators’ demands either.
“Last Generation” and “Scientist Rebellion”
In a statement, the carmaker reacted angrily to the massive disruption to its annual general meeting. Peaceful protests are a democratic means of freedom of expression. The damage to someone else’s property and the interference with the rights of others as well as the possible risk to the health of those involved are in contradiction to this. At the same time, Volkswagen renewed its willingness to engage in constructive dialogue with its critics. Wolfsburg shareholders’ meetings have repeatedly been the target of protests in recent years. The disturbances were rarely as severe as this time.
There were also protests in front of the City Cube. The police prevented the attempt by representatives of the group “Scientist Rebellion” to stick themselves on the square in front of the venue in Berlin’s Westend. In a leaflet, the initiative accused the Wolfsburg-based group of selling “too many cars”. The emissions of the climate poison CO2 by the transport sector have reached a threatening level. VW could make a positive contribution to the traffic turnaround by switching production to trains and rail infrastructure. Representatives of the “Last Generation” group, which is known for numerous sticking actions on the streets, blocked traffic to the place of the shareholders’ meeting.
Representatives of the Uyghur minority in China also protested there. The action, organized by the World Uyghur Congress, displayed banners accusing the Chinese government of human rights abuses. The umbrella organization of critical shareholders has taken up the issue and submitted a motion against the discharge of the VW board. Volkswagen operates a plant in the Chinese Uighur province of Xinjiang, which has been accused of crimes against humanity. The group has repeatedly stated that it is not involved in human rights violations.
Blume, who replaced Herbert Diess at the top of the group last September, explained his strategy for the next few years to the shareholders. Because of the protests, however, the statements took a back seat. Criticism from shareholder representatives focused, among other things, on the low valuation of Volkswagen on the stock exchange and Blume’s dual role as head of the listed sports car manufacturer Porsche AG.
Activists, investors call out Volkswagen on China record
Victoria Waldersee and Jan Schwartz
Wed, May 10, 2023
Human rights activists interrupt VW shareholder meeting
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Investors demand independent audit on Xinjiang plant
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Shareholders raise concerns over competition from BYD, Tesla
*
Chief Executive Blume defends China strategy
BERLIN, May 10 (Reuters) - Activists lashed out at Volkswagen at a shareholder meeting on Wednesday over the carmaker's controversial plant in Xinjiang, reflecting similar investor concerns over claims of human rights abuses in the region.
Investors also reiterated their longstanding critique of Oliver Blume's dual role as head of both Volkswagen and Porsche , and the low valuation of Volkswagen stock, which has been in freefall for the past two years with no respite from the listing of Porsche last September.
Chief Executive Oliver Blume acknowledged the fast pace of China's electrification, and outlined Volkswagen's strategy to hold on to its position as market leader - tailoring products to Chinese tastes and building local partnerships.
He did not mention the company's Xinjiang plant in China, a joint venture with SAIC Motor, which has become a sore point for human rights activists as well as some shareholders, including top-20 investors Deka Investment and Union Investment.
Both urged the carmaker to require of SAIC that it conducts an external independent audit of the plant in Xinjiang, where rights groups have documented human rights abuses, including mass internment camps which China denies.
"Volkswagen must be certain that its supply chains are clean," said Ingo Speich, head of sustainability and corporate governance at Deka.
About ten activists, including one topless woman with 'Dirty Money' painted on her back, interrupted executives' speeches, shouting that the carmaker's vehicles were built with forced labour and waving banners that read: 'End Uyghur Forced Labour'.
One threw a cake at Wolfgang Porsche, chairman of Porsche SE, but missed, with crumbs flying in the direction of Volkswagen supervisory board Chairman Hans Dieter Poetsch who was speaking at the podium.
All activists were rapidly escorted out by security staff.
"A constructive dialogue is important. And a general meeting offers a good opportunity for this. With the exception of a few people, everyone follows the designated guidelines," a Volkswagen spokesperson said.
Haiyuer Kuerban, a Uyghur activist and representative of non-government organisation World Uyghur Congress, is due to speak in the name of the Dachverband Kritische Aktionaere (Umbrella Organisation for Critical Shareholders).
Volkswagen's China chief visited the plant in Xinjiang earlier this year and said he saw no evidence of forced labour.
Yet, rights groups have said heavy pressure from the state makes it difficult to trust that employees can speak openly, and pointed to reports in Chinese media that the carmaker's suppliers across China source from the Xinjiang region.
Activists from the 'Last Generation' climate group also glued themselves to roads leading to the location of the shareholder meeting in Berlin and protested outside the entrance.
Shareholders flagged rising competition from Chinese EV competitors in China, with BYD outselling Volkswagen as the top passenger car brand earlier this year.
Chinese EV makers, as well as Tesla, threaten not only to weigh on Volkswagen's market share in China but also in Europe, the shareholders warned, asking for clarity on how Volkswagen will defend its position. (Reporting by Victoria Waldersee and Jan Schwartz; Writing by Christoph Steitz; Editing by Bernadette Baum)
Wed, May 10, 2023
Human rights activists interrupt VW shareholder meeting
*
Investors demand independent audit on Xinjiang plant
*
Shareholders raise concerns over competition from BYD, Tesla
*
Chief Executive Blume defends China strategy
BERLIN, May 10 (Reuters) - Activists lashed out at Volkswagen at a shareholder meeting on Wednesday over the carmaker's controversial plant in Xinjiang, reflecting similar investor concerns over claims of human rights abuses in the region.
Investors also reiterated their longstanding critique of Oliver Blume's dual role as head of both Volkswagen and Porsche , and the low valuation of Volkswagen stock, which has been in freefall for the past two years with no respite from the listing of Porsche last September.
Chief Executive Oliver Blume acknowledged the fast pace of China's electrification, and outlined Volkswagen's strategy to hold on to its position as market leader - tailoring products to Chinese tastes and building local partnerships.
He did not mention the company's Xinjiang plant in China, a joint venture with SAIC Motor, which has become a sore point for human rights activists as well as some shareholders, including top-20 investors Deka Investment and Union Investment.
Both urged the carmaker to require of SAIC that it conducts an external independent audit of the plant in Xinjiang, where rights groups have documented human rights abuses, including mass internment camps which China denies.
"Volkswagen must be certain that its supply chains are clean," said Ingo Speich, head of sustainability and corporate governance at Deka.
About ten activists, including one topless woman with 'Dirty Money' painted on her back, interrupted executives' speeches, shouting that the carmaker's vehicles were built with forced labour and waving banners that read: 'End Uyghur Forced Labour'.
One threw a cake at Wolfgang Porsche, chairman of Porsche SE, but missed, with crumbs flying in the direction of Volkswagen supervisory board Chairman Hans Dieter Poetsch who was speaking at the podium.
All activists were rapidly escorted out by security staff.
"A constructive dialogue is important. And a general meeting offers a good opportunity for this. With the exception of a few people, everyone follows the designated guidelines," a Volkswagen spokesperson said.
Haiyuer Kuerban, a Uyghur activist and representative of non-government organisation World Uyghur Congress, is due to speak in the name of the Dachverband Kritische Aktionaere (Umbrella Organisation for Critical Shareholders).
Volkswagen's China chief visited the plant in Xinjiang earlier this year and said he saw no evidence of forced labour.
Yet, rights groups have said heavy pressure from the state makes it difficult to trust that employees can speak openly, and pointed to reports in Chinese media that the carmaker's suppliers across China source from the Xinjiang region.
Activists from the 'Last Generation' climate group also glued themselves to roads leading to the location of the shareholder meeting in Berlin and protested outside the entrance.
Shareholders flagged rising competition from Chinese EV competitors in China, with BYD outselling Volkswagen as the top passenger car brand earlier this year.
Chinese EV makers, as well as Tesla, threaten not only to weigh on Volkswagen's market share in China but also in Europe, the shareholders warned, asking for clarity on how Volkswagen will defend its position. (Reporting by Victoria Waldersee and Jan Schwartz; Writing by Christoph Steitz; Editing by Bernadette Baum)
Topless protester briefly disrupts VW annual meeting
Volkswagen’s annual shareholder meeting has been briefly disrupted by protests over the company’s factory in China’s Xinjiang province
AP
Climate activists are taken out of the venue of the annual shareholders' meeting of the Volkswagen AG in Berlin, Germany, Wednesday, May 10, 2023.
Climate activists hold a protest banner outside the annual shareholders' meeting of the Volkswagen AG in Berlin, Germany, Wednesday, May 10, 2023. Slogan reads: 'Shareholders' for more Climate Crises, Labour Camps, Emissions Scandals'.
Britta Pedersen - foreign subscriber, DPA
FRANKFURT, Germany (AP) — Volkswagen's annual shareholder meeting was briefly disrupted Wednesday by protests over the company's factory in China's Xinjiang province, with a shouting, topless activist interrupting the speech by CEO Oliver Blume before she was hustled away by security personnel.
Additionally a cake-like object was thrown during a speech by board chairman Hans-Dieter Poetsch, apparently in the direction of board member Wolfgang Porsche, who represents his family's shareholding in the company, the dpa agency reported.
Photos showed a white, gooey substance resembling pastry stuck to the front of the podium behind which Porsche was sitting.
Volkswagen has said that it has found no evidence of human rights violations at its plant in China's western Xinjiang region. The Chinese government has been accused of human rights abuses against the Muslim Uyghur population in the region, including forced labor in detention camps. The U.S. State Department has described China's actions in the region as genocide.
Police also stopped an attempt by climate protesters to glue themselves to the ground on the square outside the meeting.
The shareholder meeting in Berlin resumed after a brief intermission.
Volkswagen Defends China Record At Turbulent Shareholder Meeting
BY REUTERS
MAY 10, 2023
Volkswagen AG Annual Shareholders Meeting
BERLIN (Reuters) -Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday.
About ten activists, including one topless woman with ‘Dirty Money’ painted on her back, interrupted executives’ speeches, shouting that the carmaker’s vehicles were built with forced labour and waving banners that read: ‘End Uyghur Forced Labour’.
The United Nations said last year that China’s “arbitrary and discriminatory detention” of Uyghurs and other Muslims in its Xinjiang region may constitute crimes against humanity. Rights groups have documented abuses including mass forced labour in detention camps which China has denied.
Investors called on Volkswagen to request its joint venture partner SAIC seeks an independent external audit of the Xinjiang plant. “Volkswagen must be certain that its supply chains are clean,” said Ingo Speich, head of sustainability and corporate governance at Deka, a top-20 Volkswagen shareholder.
China chief Ralf Brandstaetter said: “We do not see any evidence of human rights abuses at the plant,” adding that the carmaker was not able to implement an audit without agreement from SAIC.
Brandstaetter visited the plant earlier this year and said on Wednesday: “I have no reason to doubt my impressions or the information available to me.”
Still, activists including Haiyuer Kuerban of the World Uyhur Congress highlighted the reports of mass internment camps and links between Volkswagen suppliers and companies with a presence there, as well as the difficulty for locals to speak openly given the state’s restrictions on free speech.
Investors also raised fears that Volkswagen was falling behind in China’s increasingly competitive electric vehicle market, with BYD outselling Volkswagen as the top passenger car brand earlier this year.
Chief Executive Oliver Blume acknowledged the fast pace of China’s electrification, and outlined Volkswagen’s strategy to hold on to its position as market leader – tailoring products to Chinese tastes and building local partnerships.
CEO DEFENDS DUAL ROLE
Some investors reiterated their longstanding criticism of Oliver Blume’s dual role as head of both Volkswagen and Porsche, and the low valuation of Volkswagen stock, which has been in freefall for the past two years with no respite since the listing of Porsche last September.
Blume said he saw “high added value” in running both companies. The chief executive also said the carmaker had a clear plan to increase its capital market valuation which will be presented at a capital markets day in June.
Meanwhile, activists from the ‘Last Generation’ climate group glued themselves to roads leading to the location of the shareholder meeting in Berlin on Wednesday and protested outside the entrance.
One activist, whose affiliation was unclear, threw a cake at Wolfgang Porsche, chairman of Porsche SE, sending bits flying in the direction of Volkswagen supervisory board Chairman Hans Dieter Poetsch as he was speaking at the podium.
All of the activists were rapidly escorted out of the meeting by security staff.
“A constructive dialogue is important. And a general meeting offers a good opportunity for this. With the exception of a few people, everyone follows the designated guidelines,” a Volkswagen spokesperson said.
(Reporting by Victoria Waldersee and Jan Schwartz; Writing by Christoph Steitz; Editing by Bernadette Baum and Elaine Hardcastle)
BERLIN (Reuters) -Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday.
About ten activists, including one topless woman with ‘Dirty Money’ painted on her back, interrupted executives’ speeches, shouting that the carmaker’s vehicles were built with forced labour and waving banners that read: ‘End Uyghur Forced Labour’.
The United Nations said last year that China’s “arbitrary and discriminatory detention” of Uyghurs and other Muslims in its Xinjiang region may constitute crimes against humanity. Rights groups have documented abuses including mass forced labour in detention camps which China has denied.
Investors called on Volkswagen to request its joint venture partner SAIC seeks an independent external audit of the Xinjiang plant. “Volkswagen must be certain that its supply chains are clean,” said Ingo Speich, head of sustainability and corporate governance at Deka, a top-20 Volkswagen shareholder.
China chief Ralf Brandstaetter said: “We do not see any evidence of human rights abuses at the plant,” adding that the carmaker was not able to implement an audit without agreement from SAIC.
Brandstaetter visited the plant earlier this year and said on Wednesday: “I have no reason to doubt my impressions or the information available to me.”
Still, activists including Haiyuer Kuerban of the World Uyhur Congress highlighted the reports of mass internment camps and links between Volkswagen suppliers and companies with a presence there, as well as the difficulty for locals to speak openly given the state’s restrictions on free speech.
Investors also raised fears that Volkswagen was falling behind in China’s increasingly competitive electric vehicle market, with BYD outselling Volkswagen as the top passenger car brand earlier this year.
Chief Executive Oliver Blume acknowledged the fast pace of China’s electrification, and outlined Volkswagen’s strategy to hold on to its position as market leader – tailoring products to Chinese tastes and building local partnerships.
CEO DEFENDS DUAL ROLE
Some investors reiterated their longstanding criticism of Oliver Blume’s dual role as head of both Volkswagen and Porsche, and the low valuation of Volkswagen stock, which has been in freefall for the past two years with no respite since the listing of Porsche last September.
Blume said he saw “high added value” in running both companies. The chief executive also said the carmaker had a clear plan to increase its capital market valuation which will be presented at a capital markets day in June.
Meanwhile, activists from the ‘Last Generation’ climate group glued themselves to roads leading to the location of the shareholder meeting in Berlin on Wednesday and protested outside the entrance.
One activist, whose affiliation was unclear, threw a cake at Wolfgang Porsche, chairman of Porsche SE, sending bits flying in the direction of Volkswagen supervisory board Chairman Hans Dieter Poetsch as he was speaking at the podium.
All of the activists were rapidly escorted out of the meeting by security staff.
“A constructive dialogue is important. And a general meeting offers a good opportunity for this. With the exception of a few people, everyone follows the designated guidelines,” a Volkswagen spokesperson said.
(Reporting by Victoria Waldersee and Jan Schwartz; Writing by Christoph Steitz; Editing by Bernadette Baum and Elaine Hardcastle)
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