When Ferdinand Piech took charge of Volkswagen AG 20 years ago, the carmaker was losing almost 1 billion euros ($1.24 billion) with its sales tied to the fortunes of the European economy.
Volkswagen AG Chairman Ferdinand Piech said the company’s sales in China will grow at least 9 percent in 2013 after expanding 10 percent or more this year, driven by consumers buying their first cars.
Volkswagen AG, Europe’s largest automaker, said Supervisory Board Chairman Ferdinand Piech has no plans to step down from his post.
Porsche SE said it will appeal a Feb. 29 court ruling that said Ferdinand Piech violated his duties as a member of the carmaker’s supervisory board during its takeover bid of Volkswagen AG in 2009.
Volkswagen AG Chairman Ferdinand Piech and Chief Executive Officer Martin Winterkorn will probably stay at least until 2018 to push forward a growth plan, the automaker’s top labor representative said.
Porsche SE can’t appeal a ruling saying Ferdinand Piech violated his duties when commenting in 2009 about options transactions done as part of a takeover bid for Volkswagen AG.
Two years after Volkswagen AG kicked off its latest push to become more than an also-ran in the U.S. car market, Detroit’s automakers are hitting back hard.
Volkswagen AG will look to jump-start a stalled seven-year effort to forge Europe’s biggest truckmaker tomorrow when it gains full control of struggling MAN SE.
Volkswagen AG workers boosted their influence at Europe’s largest carmaker after receiving 2 percent of VW’s voting rights from the Piech-Porsche family.
"We are very pleased we have been able to recruit Mr. Renschler to join our company."
- Ferdinand Piech on Feb 21, 2014