In April 2012 is ending the mandate for the current Volkswagen’s chairman of the board, Ferdinand Piech. He is recognized as the man behind the company’s success in the past 18 years, so it comes to no surprise that he is supported by the majority of the German company’s supervisory board in order to become, for the third time, chairman.
Piech is 75 years old, has 12 children with four different women and is the a grandson of Ferdinand Porsche, the founder of the sports-car maker Porsche.
In the automotive circles he is known as a demanding manager, which fires any subordinate who “makes the same mistake twice”, as him alone once stated.
He started his career at Porsche, then went for Audi where become shortly CEO and is credited with developing innovative designs that ensured Audi’s place among best carmakers, such as the Quattro and 5000.
In 1993, Piech became the chairman and CEO of Volkswagen Group, where he gathered more than 18 years as CEO and chairman of the board (since 2002).
During this time, he transformed the 1993’s 1 billion euros loss into the 2002’s 2.6 billion euro profit company, owning brands like Bugatti, Bentley, Lamborghini SpA, Seat and Skoda.
These results were obtained due to strict and unpopular measures, like wage cutting, shift reductions and production reorganization throughout all the plants.