FRANKFURT, April 7 Members of the Porsche-Piech
clan that controls Volkswagen will no longer be
eligible to serve as executives of the carmaker, Porsche
Automobil Holding SE Chairman Wolfgang Porsche told
a German newspaper.
In a summary of an interview to be published in the
Frankfurt Allgemeine Zeitung on Saturday, Porsche was quoted as
saying a future management appointment from the family would be
possible in theory with 100 percent backing, which by
implication was unlikely given it would require his support.
The summary did not elaborate on why family members should
not be executives of VW.
His comments come after former Volkswagen Chairman Ferdinand
Piech sold the bulk of his stake in Porsche SE, which owns 52.2
percent of the voting shares in VW, to his younger brother Hans
His exit marked an end to the influence of a towering figure
in the auto industry who has had a rocky relationship with VW
since he was ousted as chairman in 2015, months before the
company was engulfed in the emissions test cheating scandal.
Frankfurter Allgemeine quoted Hans Michel Piech as saying:
"As a supervisory board member you cannot easily tell a family
member what to do. You can talk to a hired manager in a
completely different manner."
Both Wolfgang Porsche and Hans Michel Piech are members of
VW's supervisory board.
Wolfgang Porsche also said Porsche SE could make an
acquisition soon, possibly in the area of digital technology.
"If we see a good opportunity, we will make a decision. I
could imagine that that will be the case soon already," the
paper quoted him as saying.
(Reporting by Maria Sheahan; Editing by David Holmes)