Volkswagen Former Chairman Ferdinand Piech Dies At 82

Volkswagen Former Chairman Ferdinand Piech Dies At 82

On Monday, Volkswagen ex-chairman Ferdinand Piech, who was credited with the carmaker’s rice from the edge of bankruptcy to world leader status, has died. Mr. Piech has died at the age of 82. 

His wife Ursula Piech said in a brief statement to sources that “My husband…died suddenly and unexpectedly on August 25” after life “marked by a passion for cars and the employees who build them.”

According to several media sources, Mr. Piech has died at a hospital in Rosenheim’s Bavaria on August 25, there he was lifted after collapsed at a restaurant in front of his wife. 

Ferdinand Piech was born in Vienna, has led Volkswagen from 1993 to 2002, ahead of becoming head of the supervisory board until 2015.

He has left amid the so-called “dieselgate” misconduct when it was found that the company fit millions of cars with devices allows them to foo’ exhaust emissions tests. 

In 2017, Mr. Piech has signed a deal to sell most of his stake – amounted $1.1 billion in Volkswagen parent company Porsche SE to other members of the Porsche-Piech Family – motoring kingdom falls from the innovator of the Volkswagen Beetle. 

He has allegedly claimed that the company chiefs including then CEO Martin Winterkorn, knew about cheating with emissions after which they admitted. 

Ferdinand Piech is the grandson of Ferdinand Porsche, innovator of the iconic Beetle and the founder of luxury sports carmaker Porsche.  

Mr. Piech started his career from Porsche in 1960s, switched to Audi, Volkswagen top-of-the range carmaker, in 1972 and became its Chairman in 1988, before he took over the Volkswagen Group 5-years ago. 

Well-known as having an autocratic management style, Ferdinand Piech was referred to as “Mr. Volkswagen”.

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