[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]
RE: quattro-digest V4 #3340
Dave, et al...
It's me your little Porsche historian...
>piech was fired (or is that fried?) at porsche, after developing
>the famous (and mythical) 917.
The entire Porsche/Piech family stopped working for the Porsche
Company in 1972. When with the agreement of both sides of the family,
the company went limited partnership to a joint-stock company. Quoting
directly from the latest Christophorus. "At first there were to be ten
stock holders, all members of the family, five each from the Porsche
and Piech branchs." The article continues, "One of the ideas behind
this decision was that a management team composed of a mix of family
members and executives hired from outside world , for obvious reasons,
always give more weight to the decisions of family members. Thats why
Ferry Porsche has called a family council in June and persuaded them
to decide that all family members are to be kept out of management
positions in the company." When one of the Piech members decided to
sell their shares the company, the board took the stance to go public.
Selling those shares in '84.
In '96 around the intro of the Boxster a share traded for 850 DM.
Recently with market growth a share grown to 5,700 DM. So Dr. Piech
was not "fired" but took on the challenge of a new career, like Butzi
Porsche who started Porsche Design and has helped Porsche return
divideds for the family economically, and has turned Audi's and VW
Now as far as the "mythical 917" I won't even go there.
So if you see Dr. Piech you buy him that drink and make it a
double for me...
Hope that helps:
'82 911 SC
'83 Rx-7 SCCA spec road racer #27