Piech Challenges VW Board Selection to Replace Him

Former Volkswagen AG Chairman Ferdinand Piech is offering two alternate supervisory board candidates to those recommended by the board to replace him and his wife, according to Bild, which cites no sources.

Piech, 78, resigned last weekend after failing to unseat CEO Martin Winterkorn. On Thursday VW said the Piechs had been replaced on the board by two Piech family members: Louise Kiesling, a designer and textile executive, and Julia Kuhn-Piech, a real estate professional and board member of MAN Truck & Bus AG.

Appointing the two family members maintains balance between the Piech and Porsche families on the board.

But Bild says Piech wants those two positions occupied by Wolfgang Reitzle, former CEO of Linde AG and past executive at BMW and Ford, and former Siemens AG human resources chief and board member Brigitte Ederer.

It isn't clear how Piech proposes to replace the new board members. VW didn't indicate the terms of the two appointees. They are likely to serve to early 2017, when the Piechs' terms were to expire, before standing for reelection.