A significant reshuffle is approaching in the Volkswagen Group's supervisory board. 83-year-old Wolfgang Porsche and 84-year-old Hans Michel Piëch do not plan to seek new terms. Both have represented the interests of the families for decades, who, through Porsche Automobil Holding SE, remain Volkswagen's largest shareholder.
The question now is not only about the successor's surname. The main thing is whether the family's previous level of influence on the strategy of Europe's largest automotive concern will be maintained.
One of the most obvious candidates is 65-year-old Ferdinand Oliver Porsche, who is already a member of the Porsche supervisory board. Representatives of the next generation, Ferdinand Rudolf Wolfgang Porsche and Felix Alexander Porsche, are also being considered as possible successors.
However, family succession is not the only option. Theoretically, an independent candidate could take the position. This approach has been used in the past: from 1987 to 2002, the Volkswagen supervisory board was headed by industrialist Klaus Liesen.
The generational change is taking place against the backdrop of a major transformation at Volkswagen. Porsche SE controls 53.3% of Volkswagen's voting rights with an equity stake of about 31.9%. Therefore, a change in the composition of family representatives is not a formal personnel reshuffle, but a potentially important factor for the concern's future strategy.
Read more materials:
- Volkswagen is preparing a pickup for the USA: Amarok may get a new relative by the end of the decade
- Zoox robotaxis are entering paid routes: a trip could be more expensive than Uber
- Honda has entrusted the development of an automotive platform to an Indian company for the first time: the focus is on cost reduction