By on March 12, 2017

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Former chairman of Volkswagen’s supervisory board Ferdinand Piech may soon be losing his seat on the Porsche SE board as well. While the Porsche and Piech families have combined their VW holdings in Porsche SE, its shareholders are voting on the future makeup of the company’s supervisory board at its annual meeting on May 30. However, a complete list of of candidates has to be decided upon by mid-April and Piech’s name seems to be absent from the early draft.

Wolfgang Porsche and Ferdinand’s brother Hans Michel Piech are both on the list of candidates, but Ferdinand Piech is not, according to the German weekly Bild am Sonntag, citing a person close to the matter. They hypothesized that the decision has more than just a little to do with Piech’s recent behavior regarding the VW emissions probe.

A spokesperson for Porsche SE, which holds 52 percent of Volkswagen’s voting rights, said that the future composition of the board has not yet been decided.

Ferdinand Piech was not immediately available for comment. He resigned as Volkswagen chairman after a confrontation with former Volkswagen CEO Martin Winterkorn in April 2015. Losing his seat at Porsche SE would take him further out of the fold.

Last month, an earlier report from Bild am Sonntag said that Piech had informed management at VW about the possibility of cars cheating diesel emissions tests in the U.S. six months before the scandal went public. Piech has refused to testify on the matter and no insight has been offered to the press on his previous interviews.

All of Piech’s testimonies were given last year to the U.S. law firm Jones Day in April, followed by German prosecutors in December. “These comments were solely directed at the inquirers of Jones Day and the prosecutors respectively. They were not directed at the public media,” Piech’s lawyer, Gerhard Strate, said in a statement.

He also mentioned that Piech has no intention “to comment in public on what is being circulated as the alleged content of the questioning.”

[Image: Volkswagen]

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7 Comments on “Ferdinand Piech to Lose Board Seat at Porsche SE and Remaining Pull at Volkswagen...”

  • avatar

    OMG. Poor man. But he does keep his $500M bank account, right? Please say yes.

  • avatar

    Well, I know *one* thing, by Gadfrey; you seldom see an e-umlaut in modern German.

    Piëch, like Farty Guy and Ahhnold, was born in Austria. Maybe their German had some French influence.

    • 0 avatar

      I think it is correct that the Austrians and Swiss-Germans have dispensed with the umlaut but there was never an umlaut over the “e” to indicate a vowel sound change–just “a,” “o,” and “u.” However, this letter is actually a diaeresis that indicates the vowels are to be pronounced separately, as you would see in the example of the French “Noël” for Christmas so the former Volkswagen Engineering Dictator’s name would be more like “Pee-etch” rather than “Peach.” And given the Piëch family history, a lot more than $500 million has been socked away so no tears for him.

      • 0 avatar

        Excellent! Never studied French and never of course was presented with the diaeresis concept in German. Thanks!

        Hey, Jalopniki… betcha didn’t know this stuff, biötches!

  • avatar
    SCE to AUX

    “German Engineering”, even in the board room. Bite it, Volkswagen.

  • avatar

    The umlaut is alive and well in Swiss German — indeed in its very name written in this Alemannic German dialect: Schwyzerdütsch. It’s a while since I was in Austria, but I’m pretty sure the umlaut continues there also, since it’s necessary to indicate correct pronunciation in all German dialects.

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