Insiders

Wolfgang Porsche announces final term on Volkswagen supervisory board

May 01, 2023 at 05:36 am EDT

FRANKFURT (Reuters) - Volkswagen co-owner Wolfgang Porsche will stand for one more term on the German car manufacturer's supervisory board, according to trade publication Automobilwoche.

At Volkswagen's annual general meeting on May 10, Porsche wants to be re-elected for five years. "After that, younger people have to do it," he told the publication.

Wolfgang Porsche, grandson of company founder Ferdinand Porsche, will mark his 80th birthday on the day of the AGM, which he plans to attend, the report said.

In addition to this board role, Porsche is the chairman of the supervisory board of Porsche AG and Porsche SE and a member of the supervisory board at Audi.

Wolfgang Porsche's desired successor is his 62-year old nephew Ferdinand Oliver Porsche, but a formal decision has not been made by the family.

In September last year, Volkswagen defied volatile equity capital markets with its initial public offering (IPO) of sports car brand Porsche at a valuation of 75 billion euros ($72 billion) in Germany's second-biggest market debut.

(Reporting by Emma-Victoria Farr, editing by Barbara Lewis)

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
PORSCHE AG	89.8 EUR	+0.40%	-0.13%	87.34B
PORSCHE AUTOMOBIL HOLDING SE	49.35 EUR	+0.84%	+0.78%	16.13B
VOLKSWAGEN AG	120.1 EUR	+1.09%	-0.91%	70.32B
PORSCHE AG	89.9 EUR	+0.40%	+0.33%	87.34B

Wolfgang Porsche

Wolfgang Porsche is an Austrian businessperson who has been at the head of 10 different companies and presently occupies the position of Chairman-Supervisory Board of Familie Porsche AG Beteiligungsgesellschaft, Chairman-Supervisory Board at Porsche Automobil Holding SE, Chairman-Supervisory Board of Dr. Ing. h.c. F. Porsche AG and Co-Managing Director at Porsche GmbH (Germany). He is also Managing Partner at Porsche Holding GmbH and on the board of 11 other companies. Wolfgang Porsche previously occupied the position of Chairman-Supervisory Board of Porsche Holding Stuttgart GmbH, Managing Director at Porsche LLC, Chairman-Supervisory Board for Eterna AG Uhrenfabrik, Managing Director at Porsche Austria GmbH, Managing Director at Wolfgang Porsche Gmbh, Managing Director at Porsche GmbH (Germany) and Manager at Daimler-Benz AG. Dr. Porsche received an MBA and a doctorate from the University of World Trade and an undergraduate degree from the University of Vienna.

View full profile

Linked companies
PORSCHE AUTOMOBIL HOLDING SE	Chairman
Porsche GmbH (Germany) Porsche GmbH (Germany) Motor VehiclesConsumer Durables Porsche GmbH manufactures sports cars. The firm specializes in sports cars, SUVs and sedans. The company is headquartered in Gruenwald, Germany.	Chief Executive Officer