Mr. Piëch will remain a member of the Porsche Holding supervisory board at least until the transfer of shares is complete, the company said.<br />“The transfer underlines the commitment of the Porsche<br />and Piëch families as co-owners of Porsche Automobil Holding SE and Volkswagen,” the holding company said in a statement.<br />Mr. Piëch became the chairman of Volkswagen’s supervisory board in 2002 after retiring as chief executive,<br />but he was forced out in 2015, a few months before the emissions cheating became public.<br />Volkswagen Share Sale Keeps the Automaker a Family Affair -<br />By JACK EWINGAPRIL 3, 2017<br />Ferdinand Piëch, a former chief executive of Volkswagen who was a dominant presence at the carmaker for more than two decades, has<br />agreed to sell most of his 15 percent stake in the family holding company to his relatives rather than to an outside investor.
