ItalDesign founder Giorgetto Giugiaro resigns from company

AUTO NEWS

Giugiaro sells remaining stock to Audi

The man most famous for designing the Volkswagen Golf has resigned from his own design firm, Italdesign Giugiaro. Giorgetto Giugiaro has sold his remaining stock to Audi last June 28. He and his son, Fabrizio announced their respective resignations from the design firm the following day. The elder Giugiaro also resigned as honorary chairman.

Giugiaro sold 90.1% of his stake in Italdesign Giugiaro to Audi about five years ago. The remaining 9.9% stock was split between father and son. The Giugiaros have decided to sell their remaining stake to Audi, giving the German carmaker full ownership of Italdesign.

Italdesign has issued a statement saying Giorgetto Giugiaro resigned "to dedicate more time to his personal interests" adding that the change in management will not affect the company's growth path.

At 17 year of age, Giorgetto Giugiaro first started designing cars for Fiat. Apart from the Volkswagen Golf, his career of nearly six decades gave birth to the first generations of the Passat, Scirocco and Jetta. His other well known designs include the BMW M1, Maserati Bora, Audi 80, Fiat Panda and a series of Alfa Romeo models including the Giulia Sprint and Brera.

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