VW Shuffle: Piech to Quit as Chairman, Porsche Gets 2 Seats on Board

Ferdinand Piech

Fer­di­nand Piech, Volk­swa­gen Chair­man, will step down next year in exchange for nam­ing two Porsche exec­u­tives to the Board. Share­hold­ers and oth­er board mem­bers have accused Mr. Piech, for­mer CEO and heir to the Porsche for­tune, of a con­flict of inter­est since Porsche acquired 18.5 per­cent of Volkswagen’s shares last fall.

Background
Porsche, VW inter­twined since before WWII when Piech’s grand­fa­ther, Fer­di­nand Porsche, designed Bee­tle for Hitler




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