VW Chairman’s Wife to Join Audi Board

Volkswagen AG's Audi unit has confirmed German press reports that Ursula Piech, wife of VW Chairman Ferdinand Piech, has been nominated to the Audi supervisory board.

Audi's board election will be held at its annual general meeting on May 16. Ursula Piech was elected to VW's 20-member supervisory board last April.

The company has said she is a "car fanatic" who knows the companies well. She met Piech when she was his family's nanny and is now mother of three of his 12 children.

Analysts view the move as another step by Piech to consolidate his grip on the VW Group. The Porsche and Piech families own more than 90% of Porsche Automobil Holding SE, which owns a majority of VW stock.