Piech Reelected Volkswagen Chairman

FRANKFURT, April 19, 2007: Reuters reported that Volkswagen AG's controversial board director Ferdinand Piech was reelected as chairman of Europe's largest carmaker, the company said late on Thursday.

"Following the annual general meeting, the supervisory board of Volkswagen AG unanimously elected Prof. Dr. h.c. Ferdinand K. Piech as Chairman of the Supervisory Board for a further five years," it said in a brief statement.

The reelection as chairman by his fellow board members after shareholders earlier in the day voted to extend his term on the board was widely expected.

Piech, who spent most of his career at Volkswagen, is grandson of VW Beetle creator Ferdinand Porsche and is also part owner of Porsche AG , VW's largest shareholder.