Ferdinand Piech
Ferdinand Piëch Born (1937-04-17) 17 April 1937 (age 77) Vienna, Austria Nationality Austrian Occupation Automobile engineer, business executive Known for Chairman of Volkswagen Group Relatives Louise Porsche Piëch - mother Anton Piëch- father Ferdinand Porsche - grandfather Ferry Porsche - uncle Wolfgang Porsche- cousin Ferdinand Porsche III - cousin Ferdinand Karl Piëch (born 17 April 1937) is an Austrian business magnate, engineer and executive who is currently the chairman of the supervisory board of Volkswagen Group. A grandson of Ferdinand Porsche, Piëch started his career at Porsche, before leaving for Audi after an agreement that no member of the Porsche or Piëch families should be involved in the day-to-day operations of the company. Piëch eventually became the head of Audi, where he is credited with evolving and growing Audi into a competitor to equal Mercedes-Benz and BMW, thanks in part to innovative designs such as the Quattro and 100. In 1993, Piëch became the chairman and CEO of Volkswagen Group, which he is credited with turning into the large conglomerate it is today; He oversaw the purchase of Lamborghini and Bentley, as well as the founding of Bugatti Automobiles, all of which he integrated with the Volkswagen, Skoda, SEAT and Audi brands into a ladder-type structure similar to that used by Alfred Sloan at General Motors. Piëch was required to retire at age 65 per Volkswagen company policy, but has remained on its supervisory board and is still involved in the company's strategic decisions. Educated as an engineer, Piëch influenced the development of numerous significant cars including the Audi Quattro, Volkswagen New Beetle, Audi R8, Lamborghini Gallardo, Volkswagen Phaeton, and notably, the Bugatti Veyron, which as of 2012 is the fastest, most powerful and most expensive road legal automobile ever built. Due to his influence on the automobile industry, Piëch was named the Car Executive of the Century in 1999.