Ingo Speich

The vote is a disgrace. To be gambling away the trust of so many investors within such a short time has historic proportions.

Now there is an opportunity to develop a new strategy, to advance restructuring and to reposition the group.

VW can only develop further if the conflict of interest between unions, Lower Saxony, the ruling families and independent shareholders is resolved.

Hainer's rule has been reined in by the arrival of new investors... by Ingo Speich

Hainer's rule has been reined in by the arrival of new investors who the board cannot ignore.

We believe it should be an external candidate to break the Hainer... by Ingo Speich

We believe it should be an external candidate to break the Hainer system.

They should focus on the core brand and split off or sell the others.

We would prefer people from outside VW to lead the management and supervisory boards, what matters most now is to regain trust of the capital markets; this cannot be done with the current leadership.

It would be far better to have new, fresh people in the management board and the supervisory board to gain back trust from the capital markets.

The market is anticipating more than just the U.S. issue. We have to admit that just looking at the facts there is a huge loss of trust in management.

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The market is anticipating more than just the U.S. issue. We have to admit that just looking at the facts there is a huge loss of trust in management. That is the main issue, for now we see this as a Volkswagen issue.

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Sentiment is quite nervous...I think more and more investors blame central banks for not acting in the current environment to bring stabilisation, currently there is no positive bottom-up or fundamental signal that is strong enough to keep markets up.

For me, China is a short blip rather than a real slowdown. What we are hearing from company management is pretty buoyant.

When we talk to companies it is pretty difficult to convince them to give cash back to shareholders, banks are reluctant to give them liquidity and we have a pretty volatile market environment, with Greece and the European Central Bank (buying bonds) and so on...They want to be defensive.

We think this is temporary volatility that should work itself out, but it is nonetheless a sign of caution. We have to keep an eye on the bond market.

The search for a successor to Piech at the top of the supervisory board has the utmost priority for investors.

We will see a further run-up in markets...We are seeing additional inflows from institutional clients.

Growth chances have improved thanks to the merger. by Ingo Speich

Growth chances have improved thanks to the merger.