Legendary car designer Giorgetto Giugiaro has decided to sell his remaining stock in the company which he founded.
About five years ago, Giugiaro sold 90.1% of his stake in Italdesign Giugiaro SpA to Audi and now he decided to part ways with the remaining 9.9% stake. Audi was the buyer once again so now Volkswagen’s premium marque has full ownership of the company that was founded back in 1968.
Besides selling his remaining stake, Giorgetto Giugiaro has left the company after a long and prolific career in which he designed approximately 100 production cars, including the original Volkswagen Golf, Passat and Scirocco. He was also responsible for the BMW M1, Maserati Bora, Audi 80, Fiat Panda and a series of Alfa Romeo models including the Giulia Sprint and Brera. His most recent work is the Italdesign Giugiaro GEA concept unveiled back in March at the Geneva Motor Show.
According to Italdesign Giugiaro officials, Giorgetto Giugiaro has decided to leave the company “to dedicate more time to his personal interests” and this change in management will not affect the company’s development which they say is on a “growing path” and an additional 250 employees will be hired by the end of 2015.