Piech resignation paves way for VW F1 tie-up
Audi in the box seat to be F1 engine supplier after boardroom bust-upFerdinand Piech has severed all ties with Volkswagen, the company that owns the sports car manufacturer founded by his grandfather and namesake, Ferdinand Porsche.
According to a report published late last week by Automotive News Europe, Piech had resigned due to tensions between himself – as Volkswagen Group Supervisory Board Chairman – and CEO Martin Winterkorn. The row had been brewing over an extended period, the report indicates, and hints that pressure at senior management level to cut production costs and boost profitability has played a part.
Piech's departure from Volkswagen will remove one hurdle facing Audi in the event the brand enters Formula One as an engine supplier. Barely a week ago, we reported that Audi had been investigating the prospect of supplying engines to F1 teams, including perhaps Red Bull, which is struggling to compete against Mercedes-Benz and Ferrari with its current Renault-supplied engines. Audi and Red Bull have already established a working relationship in the German touring cars category, DTM (pictured).
Piech had reportedly made it clear that no VW-owned brand would get involved in any capacity with Formula One while Bernie Ecclestone remained at the helm. With Piech gone, so too is that proscription.
In a statement issued by a six-member panel formed from Volkswagen's supervisory board members, blame was placed at the feet of Piech for the "steering committee" arriving at the "consensus that in light of the past weeks, the mutual trust necessary for successful cooperation was no longer there."
About a week ago, senior board members, in a vote of five to one, had insisted Piech agree to a joint statement supporting Winterkorn. Sources have told Automotive News that the supervisory board would have called for his own resignation if Piech had not backed Winterkorn.
Piech, 78, and his wife Ursula have resigned from all their posts with VW, but his cousin Wolfgang Porsche remains in the position of Chairman at the eponymous sports car manufacturer.
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