Audi board seat eyed by Ferdinand Piech and Porsche family

audispy submitted on 03/09/2008 Official Bell & Ross Timestamp: 1:18 PM
from: news.yahoo.com

Tags: Audi board seat eyed by Ferdinand Piech and Porsche family

FRANKFURT (AFP) - Influential Volkswagen supervisory board president Ferdinand Piech and the Porsche family want to join the supervisory board of VW's lucrative Audi division, a press report said Friday.

"There are clear signals that lead one to believe the families want stronger representation at Audi," the Financial Times Deutschland said, quoting sources close to the supervisory board.

A decision would be made by May 7, when Audi shareholders meet in a general assembly, the newspaper said.

Piech, who is a co-owner of Porsche, said Monday he would turn his Porsche supervisory board seat there over to his brother Hans Michel, without giving a reason.

"He just said: you will understand why in a few weeks," a source said.

Porsche, which owns 31 percent of VW, got the green light on Monday to take a majority stake in the biggest European car maker, in which it has been slowly increasing its holding.

But Piech's position as president of both the Porsche and VW supervisory boards has bothered key VW shareholders, in particular the German state of Lower Saxony, which has claimed it represented a conflict of interests. Read Article

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LexSucks - 3/10/2008 1:22:57 PM

-1 Boost

Maybe this will force Audi to offer a competitive for the A4. Non "S" or "RS" Audi Sedans are always the weakest in their classes.

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S4cabriofoxone - 3/11/2008 12:32:01 AMView My AgentSpace

+2 Boost

Hmm. Maybe that's why the A4 2.0T quattro came in first place in an R&T AWD sedans comparison involving the Legacy GT, 325xi, Mazdaspeed6, IS250 AWD and S40 T5.

LexSucks - 3/13/2008 5:27:18 PM

+1 Boost

The 2.0t is a dog. It came in first place but not because of its performance.

S4cabriofoxone - 3/11/2008 12:30:59 AMView My AgentSpace

+2 Boost

NO. This shouldn't happen.

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