Mr. Piëch will remain a member of the Porsche Holding supervisory board at least until the transfer of shares is complete, the company said.
“The transfer underlines the commitment of the Porsche
and Piëch families as co-owners of Porsche Automobil Holding SE and Volkswagen,” the holding company said in a statement.
Mr. Piëch became the chairman of Volkswagen’s supervisory board in 2002 after retiring as chief executive,
but he was forced out in 2015, a few months before the emissions cheating became public.
Volkswagen Share Sale Keeps the Automaker a Family Affair -
By JACK EWINGAPRIL 3, 2017
Ferdinand Piëch, a former chief executive of Volkswagen who was a dominant presence at the carmaker for more than two decades, has
agreed to sell most of his 15 percent stake in the family holding company to his relatives rather than to an outside investor.
