Wife of VW paterfamilias Piëch up for Audi supervisory board

Michael Harley — Thu, 11 Apr 2013 07:58:00 EST

Filed under: Europe, Hirings/Firings/Layoffs, Audi, Porsche, Volkswagen

In a move seen as yet another way for the controlling Piech-Porsche family to leverage its muscle over the continent's biggest automaker, Ursula Piech - wife of chairman Ferdinand Piëch - is set to join the Audi supervisory board at the annual shareholder's meeting on May 16. Putting Piëch's wife, a 56-year-old kindergarten teacher, on the board is seen as just a formality as the Piëch and Porsche families already control more than 90 percent of the Porsche SE holding company (owner of a majority of Volkswagen common stock).

Although formally trained to educate young children, this isn't Ursula Piëch's first corporate role. In 2010, Piëch chose his wife to be deputy head of two Austria-based foundations that control owned stakes in Porsche and VW. She took a seat on the board of Wolfsburg-based VW almost a year ago.

Chairman Piëch will turn 76 next week, and his wife is set to take over her husband's interests when he dies.

Wife of VW paterfamilias Piëch up for Audi supervisory board originally appeared on Autoblog on Thu, 11 Apr 2013 07:58:00 EST. Please see our terms for use of feeds.

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CEO says Volkswagen's buying spree is over

Chris Tutor — Mon, 03 Sep 2012 18:03:00 EST

Filed under: Lotus, Porsche, Volkswagen, Alfa Romeo, Fiat

After adding Italian motorcycle icon Ducati to its stable and spending $5.6 billion on the rest of Porsche, Volkswagen CEO Martin Winterkorn says he's done shopping for a while.

"We have enough to do at the moment in taking our twelve brands to where we want to be," Winterkorn tells German newspaper Handelsblatt.

Rumors of VW's pending purchase of Malaysian carmaker and Lotus owner Proton have been swirling for a while - as recently as July. And a year ago, VW Chairman Ferdinand Piëch implied interest in relieving Fiat of its Alfa Romeo brand. But Winterkorn says his company is just too busy integrating Porsche and Ducati into the corporate structure to add any more brands right now.

"That I find Alfa Romeo an interesting brand is not a secret," Winterkorn said. "But we are currently busy enough with our brands."

At least one industry analyst, Michael Punzet of DZ Bank, thinks VW wouldn't pass up a bargain-priced Alfa or Proton if offered. "But at the moment I guess they are really focusing on integrating Porsche AG and consolidating the truckmakers MAN and Scania," Punzet said.

Read the full story at Bloomberg.

CEO says Volkswagen's buying spree is over originally appeared on Autoblog on Mon, 03 Sep 2012 18:03:00 EST. Please see our terms for use of feeds.

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