Giorgetto Giugiaro Leaves ItalDesign, Audi Purchases Remaining Ownership

Late last week, design icon Giorgetto Giugiaro has resigned from his position at the helm of ItalDesign, his family firm in which Audi has held a controlling (90.1%) stake since 2010. The designer sold his remaining shares to Audi, departing reportedly along with his son Fabrizio who was also active in the business.

With this move, Audi becomes the sole owner of the legendary design firm. And with the departure of the two Giugiaro designers, it also apparently leaves Audi and the Volkswagen Group fully in charge of the direction of the company as well.

It should be noted, Giugiaro is 77 years old, so his retirement itself is not unexpected. That he’d eventually sell his remaining share also really isn’t that surprising. We’re not sure what to make of Fabrizio’s departure though, which may or may not indicate something more.

Giugiaro’s firm, formed in 1968, is known for many hallmark automotive designs, including notables at Audi and the Volkswagen Group such as the first iteration of the Volkswagen Golf, Scirocco and Volkswagen’s W12 concept cars. In more recent years, ItalDesign has been a regular player with concept cars here and there, and also quite active in behind-the-scenes assembly of concept cars like the much-loved 5-cylinder Audi quattro Concept.

The plight of the legendary Italian design houses is one of varied fortunes. While ItalDesign Giugiaro was acquired by Audi, other storied names like Bertone have gone out of businesses or like Zagato have become much less active over the years. Talented in-house design departments have ushered a new era in design where car companies hire and maintain within instead of farming out a design and even promoting that designer’s name on a car. In as much, only Pininfarina remains essentially independent nowadays, still doing its fair share of work for Italian marques like Ferrari. In as much, Giugiaro’s departure is yet another signal of the changing of an era regarding these old and storied firms.

Below is the statement provided by ItalDesign on the subject of Giorgetto Giugiaro’s departure.

[Begin Press Release]

Giorgetto Giugiaro, 77 years next August 7, leaves his role as Honorary President at Italdesign Giugiaro, to dedicate more time to his passions and personal interests.

The decision coincides with Giugiaro’s sixtieth anniversary in car design. Since 1955 Giugiaro designed hundreds among the most renowned and successful cars, working together with all of the main OEMs worldwide.

Italdesign Giugiaro is now fully integrated into the Volkswagen and Audi Group, of which it is part since 2010. The Company’s management, during the last five years, gained experience and full competences to autonomously operate and strengthen the presence of Italdesign Giugiaro inside the Group.

The Company’s growth is and will be constant. Some 50 new hires are planned within the end of the current year. Since 2010, some 200 new employers joined the Company. Giugiaro’s decision to leave Italdesign, will neither affect the activities, nor the Company’s growth process.

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