Ferdinand Piech, 82, architect of VW's global expansion, has died - Bild

FRANKFURT (Reuters) - Ferdinand Piech, Volkswagen AG's former chairman and chief executive, who transformed the German carmaker from a regional manufacturer into a global automotive conglomerate, has passed away, German tabloid Bild said on Monday. Piech, 82, died on Sunday in Rosenheim, Bavaria, the German tabloid said, without citing sources. A representative for the Piech and Porsche families, who still control a majority stake in Volkswagen through their family holding company Porsche SE, could not be reached for comment

Reuters August 27, 2019 03:06:14 IST
Ferdinand Piech, 82, architect of VW's global expansion, has died - Bild

Ferdinand Piech 82 architect of VWs global expansion has died  Bild

FRANKFURT (Reuters) - Ferdinand Piech, Volkswagen AG's former chairman and chief executive, who transformed the German carmaker from a regional manufacturer into a global automotive conglomerate, has passed away, German tabloid Bild said on Monday.

Piech, 82, died on Sunday in Rosenheim, Bavaria, the German tabloid said, without citing sources.

A representative for the Piech and Porsche families, who still control a majority stake in Volkswagen through their family holding company Porsche SE, could not be reached for comment.

Volkswagen could not be reached for comment.

Piech is a grandson of Ferdinand Porsche, the designer of the iconic sportscar and part of the Porsche and Piech clans which today still control the carmaker.

A brilliant engineer, Piech turned around VW after betting on a modular construction technique by sharing common vehicle underpinnings between the various brands within the VW empire.

Under Piech's leadership, VW added high-margin luxury marques to VW's volume brands, acquiring the Bentley, Bugatti and Lamborghini brands in a single year.

Today Volkswagen Group includes the Seat, Skoda, Bentley, Audi, Porsche and Ducati brands in addition to the MAN and Scania truck brands.

Piech was known for his ability to outmanoeuvre rivals using stealth management tactics and by turning against his own managers and family members.

"It is not possible to take a company to the top by focusing on the highest level of harmony," he said in his autobiography.

While working as development chief at Audi, he decided to keep his top engineers in the dark about the aerodynamic qualities of the Audi 100 by using wind tunnels in Hamburg, Stuttgart, Wolfsburg and Turin to develop the vehicle.

That way no single engineer could defect to a rival with crucial know-how.

"I was in the middle of it all, putting together the pieces of the puzzle," Piech said in his autobiography.

Piech held various senior positions within the VW empire, including development jobs at Audi where he developed the brand's quattro four-wheel drive technology, before becoming Volkswagen's chief executive in 1993 and chairman in 2002 after a brief stint at Mercedes-Benz where he developed diesel engines.

Max Warburton, an analyst at Bernstein Research, described Piech as the architect of VW’s global success in a note from 2012.

"His stewardship of VW has been indisputably successful. Piech will go down in history as an automotive legend, in the same class as Gottlieb Daimler, Henry Ford and Kiichiro Toyoda."

(Reporting by Edward Taylor in Frankfurt; Editing by Matthew Lewis and Lisa Shumaker)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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