Audi Chief Steps Away Piech Family Foundation

Audi Chief Steps Away Piech Family Foundation

Rupert Stadler, CEO of Audi has resigned from his position of leadership at the Piech family foundation. Stadler has long been close to the family, and worked as Ferdinand Piech’s chief of staff when he was CEO of  the Volkswagen Group.

The two men were very close, but reports emerging now suggest that the connection may be a liability given the friction between VW and its former CEO.

Austrian company filings show that Stadler’s exit from his positions at Ferdinand Karl Beta Privatstiftung and Ferdinand Karl Alpha Privatstiftung was requested by Stadler on February 3, 2017.

Despite the friction between Piech and VW, he still owns about 15% of Porsche Automobil Holding SE, the VW Group’s largest shareholder. As a result, Stadler’s role in the Piech family foundation has  been criticized as the potential source of a conflict of interest.

Stadler has good reason to get into VW’s good books, as the CEO has faced criticism for Audi’s slow reaction  to the dieselgate scandal. Despite that, both the Piech family and Volkswagen have publicly supported Stadler.

[source: Automotive News]

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March 3, 2017 at 04:22AM

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