Volkswagen Group co-owner Wolfgang Porsche plans to serve for one more term on the automaker's supervisory board.
At VW Group's annual meeting on May 10, Porsche will seek election for another five-year term.
"After that, younger people will have to take over," he told Automotive News Europe sister publication Automobilwoche.
Porsche, grandson of company founder Ferdinand Porsche, will mark his 80th birthday on the day of the annual meeting in Berlin, which he plans to attend.
Together with Hans Michel Piech, Porsche acts as spokesman for the influential Porsche-Piech automotive clan that holds a majority stake in VW Group through the Porsche SE holding company.
His desired successor is his 62-year old nephew, Ferdinand Oliver Porsche, but a formal decision has not been made by the family.