IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Sunday, June 26, 2011

Victor Muller left alone on Saab's Board of Directors

Earlier today we got the report that Kristina Geers, Saab's General Counsel, had resigned from the Board of Directors of Saab Automobile. But she does not seem to be the only one leaving the Board. TTELA now reports that the two union representatives on the Board now also have resigned from the Board.

Håkan Skött, representative from union IF Metalls, tells TTELA that he has resigned from personal reasons.

"For me it's about personal reasons. Given the serious situation which the company is in and the responsibilities and requirements that means, I decided to resign."

In other words, Skött does not seem to be willing to sit on a Board of a company that is more or less insolvent, as being a Board member involves responsibility to, amongst other things, requesting a bankruptcy filing when the company can not pay its bills.

Also Annette Hellgren, representative from Unionen, has left the Board. Now Victor Muller is left alone in the Board.

This does not look good at all! People are jumping ship. A ship full speed ahead towards the ice berg.

NB: Håkan Skött told the Board that he was resigning on Tuesday or Wednesday last week. So his resignation should not be interpreted as a bad sign for Victor Mullers work the last few days work to save Saab.