Audi Boss Is Criticized For Being Close To Piech

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

Audi boss Rupert Stadler has been criticized. For example, individual VW supervisory boards criticize the manager's sideline activity on the board of three foundations of the Piech family.

According to a report in the “Süddeutsche Zeitung”, individual VW supervisory boards criticize the sideline activity of Audi boss Rupert Stadler for the major VW shareholder Ferdinand Piëch. Stadler sits on the board of three foundations of the Piëch family, which should increase private wealth and secure the family's influence at VW.

Some inspectors feared conflicts of interest. The Porsche and Piëch families hold the common shares of Porsche Holding, which are important at the general meeting because they are entitled to vote. This in turn is VW majority owner.

No opinion from Audi

The report on Thursday caused astonishment among some VW supervisory board members. Stadler's closeness to the Piëch family had not actually been an issue in the 20-person committee, it was said from the area. Others said the process was not a drama, but should be discussed in the VW board of directors next Wednesday to rule out any appearance of rule violations.

According to the "Süddeutscher Zeitung", lawyers from the Stadler group examined and approved foundation mandates. They are not shown in the annual reports. Audi declined to comment. The Audi supervisory board meets in Ingolstadt on Thursday evening.

Planning for the coming year is traditionally on the agenda. However, the diesel affair in the group is likely to be a central issue. Audi had initially denied that it was involved, but then had to admit that it had manipulated the exhaust gas in its six-cylinder turbo diesel. The works council and IG Metall reacted angrily and demanded that Stadler clarify the errors completely. (dpa)