Porsche clan said to consider Piech's exit after VW allegations

Frankfurt

FERDINAND Piech, the long-time strong man of the billionaire clan behind Volkswagen AG, is under pressure to give up his last links to the German carmaker, a move that could mark the inglorious end to a storied career.

Members of the Porsche and Piech families are in talks over replacing the 79-year-old on the supervisory board of Porsche Automobil Holding SE, their investment vehicle that owns a majority of VW's voting shares, according to people familiar with the situation. The role is Mr Piech's last official position after spending more than two decades pulling the strings at Volkswagen and putting it into position to become the world's largest carmaker.