Spyker News: Victor Muller in the review of shareholders

Yes, Saab board member Victor Muller does not have it easy. The day before yesterday in Beijing, then to Trollhättan, now to Holland where in Zeewolde new trouble awaits. One wonders how the man copes with this workload. In the Netherlands, the shareholders 'meeting of Spyker and Muller is under heavy fire from the shareholders' association VEB.

VEB probably does not stand for “state-owned company” and Victor Muller will survive this too, because after the last few weeks this man is guaranteed to be bulletproof.

The merger of shareholders with their economist David Tomic accuses Muller of having paid a disproportionate bonus of 4.5 million Swedish kroner to achieve certain business goals while the company has made losses. In addition, Muller received a bonus in the form of 120.000 Spyker shares, which are worth the 4 million Swedish Krona today.

The shareholders want a refund of the bonuses, they do not like it well that Muller the post of Saab CEO exercises and want to know when a successor to Jan Ake Jonsson comes. They also have questions about Saab business plans, marketing, production planning and so on.

The sale of Spyker Sportscars to CPP Global Holding of Antonov is the next topic. Although a letter of intent was signed in February and a price of 32 million € set, but the deal is not yet completed, so no money flowed. Spyker could invest the money well in Saab, closing liquidity gaps. Why is the business on ice?

The resignation of Jan Ake Jonsson additionally engages the shareholders. David Tomic of the shareholders' association wants to know the reasons and find out if there was a conflict between Muller and Jonsson.

What do shareholders want? Mood against Muller? If one converts the bonus of Swedish Krona into €, one comes to amounts that other executives would dismiss with a smile. The fact that Spyker, a company in the making is writing losses and writing the next few years, must be clear to each of the Spyker stocks. You do not have to be an economist for that.

Do you want to have the job of Muller with this workload? I think no. Despite all Saab passion, the man is not to be envied.

Text: tom@saabblog.net