The wife of Volkswagen AG chairman Ferdinand Piech is set to join the supervisory board of the Volkswagen Group-owned Audi, almost a year after being elected to the board of Volkswagen AG.
An Audi spokesperson confirmed the the likely appointment to industry journal Automotive News, saying Ursula Piech will be up for election to Audi's supervisory panel at the next annual shareholders' meeting on May 16.
While a formal election is still to take place, Automotive News suggests “the appointment of Piech's 56-year-old wife, a trained kindergarten teacher, to the board of Volkswagen's biggest profit contributor will be nothing but a formality.”
Austrian-born Ferdinand Piech – grandson of the sports car founder Ferdinand Porsche – has been chairman of the Volkswagen Group since 2002 after the 75-year-old held the position of chairman of the board of management at Volkswagen AG from 1993 to 2002. Ursula Piech joined Volkswagen AG’s supervisory board on April 19, 2012.
The Volkswagen Group – including Audi, Bentley, Bugatti, Lamborghini, Seat, Skoda and Volkswagen – expanded to include Porsche in August last year after securing a remaining 50.1 per cent stake in Porsche Automobil Holding SE’s car making business for 4.46 billion euros ($5.44 billion), following the purchase of a 49.9 per cent stake in 2009.