The Porsche SE holding company plans to restructure its supervisory board and has not put former Volkswagen chairman Ferdinand Piech up for re-election.
Porsche SE votes the Porsche and Piech families’ controlling 52% stake in Volkswagen Group.
“While Wolfgang Porsche and Ferdinand Piech’s brother Hans Michel Piech are on the list of candidates, Ferdinand Piech is not,”
Reuters reported
, citing
Bild am Sonntag
.
Ferdinand Piech resigned as VW’s chairman after a 2015 showdown with the company’s former CEO, Martin Winterkorn, the article noted.
A report in “The Fortune CEO Daily,” a newsletter from
Fortune
magazine, noted that the supervisory board seat was Ferdinand Piech’s “last remaining position of influence.” The newsletter report said “The list of family grievances against Piech Sr. is long and tedious, but the move has a particular spice right now as Rupert Stadler, who used to run Piech’s private office before heading to Audi, is currently facing accusations of having known about the use of illegal software to cheat vehicle testers years ago.” (Sources: Reuters, March 12, 2017; “The Fortune CEO Daily,” March 13, 2017.)
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