FRANKFURT, March 12 Former Volkswagen
Chairman Ferdinand Piech is set to lose his board
seat at Porsche SE, in which Germany's billionaire
families Porsche and Piech have pooled their holding in Europe's
largest carmaker, a German weekly reported.
Porsche SE's shareholders will vote on the future
composition of the holding company's supervisory board at the
annual meeting on May 30. A final list of candidates has to be
decided on by mid-April.
While Wolfgang Porsche and Ferdinand Piech's brother Hans
Michel Piech are on the list of candidates, Ferdinand Piech is
not, Bild am Sonntag reported citing a person close to the
A spokesman for Porsche SE, which holds 52 percent of
Volkswagen's voting rights, said that the future composition of
the board has not yet been decided.
Ferdinand Piech was not immediately available. He resigned
as Volkswagen chairman after a showdown with former Volkswagen
chief executive Martin Winterkorn in April 2015.
Last month, Volkswagen signalled it could take legal action
against Piech after a media report said he had informed top
directors about potential cheating of diesel emission tests six
months before the scandal became public.
(Reporting by Jan Schwartz; writing by Arno Schuetze; Editing
by Stephen Powell)