Piech owns 15 percent of Porsche Holdings, which owns 52 percent of VW's voting stock.Former Volkswagen Group chairman Ferdinand Piech is reportedly considering selling his stake in the holding company that owns a majority of the automaker's voting shares.Piech recently stirred controversy when he allegedly told VW's internal investigators that he confronted former CEO Martin Winterkorn about the emissions scandal in March 2015. The information was allegedly leaked to Piech via former Israeli ambassador Avi Primor.
Several weeks after allegedly informing VW's supervisory board of the government investigations into emissions issues, Piech publicly stated that he had 'distances' himself from Winterkorn. The ensuing leadership struggle ended in Piech's ouster, though Winterkorn soon faced the same fate days after the EPA's inquiry emerged into public view.
VW last month threatened to sue Piech over his recent comments to Jones Day, the law firm leading the company's internal review. Jones Day reportedly concluded that Piech's allegations were not supported by evidence and were "implausible overall."
Piech had essentially implicated VW's entire supervisory board, including his cousin Wolfgang Porsche, in potentially illegal activity. Unsurprisingly, the accusations appear to have sparked a family feud and Piech is under pressure to sell his 15 percent ownership of Porsche Automobil Holding, worth about $1.2 billion, according to Bloomberg. The holding company owns 52 percent of VW's voting stock.