Volkswagen’s ex-chairman who was considered by many to be the company’s saviour, having taken it from the brink of bankruptcy to glory, Ferdinand Piech has died, AFP reported.
"My husband ... died suddenly and unexpectedly on August 25th … after a life … marked by a passion for cars and the employees who build them," his wife Ursula Piech said in a brief statement issued by her lawyer to AFP, confirming earlier German press reports.
According to local German newspapers, Piech died shortly after he collapsed in front of his wife at a restaurant and was admitted to hospital in Rosenheim in Bavaria on Sunday night.
After leading the car making giant from 1993 to 2002 Piech was appointed head of the supervisory board until 2015.
Piech was the grandson of Ferdinand Porsche, who laid the basis for the iconic 911 sports car, he worked his way up to the Volkswagen top job in the 1990s after learning the basics of engineering at Porsche and Audi. Known for his strict managerial stance, Piech was often referred to as “Mr. Volkswagen”.