Ferdinand Piech, architect of VW's global expansion, dies aged 82

Ferdinand Piech, architect of VW
# 27 August 2019 18:10 (UTC +04:00)

Ferdinand Karl Piech, Volkswagen AG’s (VOWG_p.DE) former chairman and chief executive, who transformed the German company from a struggling midsized carmaker into a global automotive powerhouse, has died, his wife said in a statement, APA reports citing Reuters.

Piech, 82, who had 13 children by four different women, died suddenly on Sunday, his wife Ursula said.

A brilliant engineer, Piech turned around VW after betting on a modular construction technique which allowed Audi, Skoda and VW brands to share up to 65% common parts, helping Volkswagen Group, the world’s largest carmaker by sales, to attain greater economies of scale.

“The life of Ferdinand Piech was shaped by his passion for automobiles and for the employees that create them. He remained an enthusiast engineer and car lover until the end,” Ursula Piech said in the statement.

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