Porsche AG, the family-controlled luxury carmaker, has unanimously re-elected Dr Wolfgang Porsche as chairman of the supervisory board, but said goodbye to another family member.
Wolfgang Porsche (pictured) shot to fame in 2009 when he tried to takeover VW, headed by his cousin Ferdinand Piech. Porsche began building shares in VW but the ambitious plans fell through due to the financial crisis and the two companies are now in the process of a merger. (Click here to read our coverage of the story)
Apart from Wolfgang, family members who sit on the board include Prof Dr Ferdinand K Piëch, Dr Ferdinand Oliver Porsche, Hans-Peter Porsche and Dr Hans Michel Piëch. Earlier this year Hans-Peter stepped down from the board of holding company Porsche SE to make way for a representative of Qatar Holdings, the Doha-based investment company that now owns a 10% stake in Porsche. (Click here to read our coverage of the story)
Prof Dr Martin Winterkorn, chairman of the Board of Management of Volkswagen AG and the chairman of the Board of Management of Porsche SE, also joins the supervisory board, which has been increased in number to 20 members. Family member Ferdinand Piëch Jr has stepped down.
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