Porsche’s CEO, Wendelin Wiedeking, resigned his position at the German sports car maker last week. Wiedeking had opposed Porsche and Piech families efforts to merge with Volkswagen, and his departure now paves the way for a merger of Porsche within Volkswagen. According Wiedeking’s lawyer, the Porsche and Piech families were prepared to offer the CEO a [...]
As reported this past weekend, Porsche is moving ahead with a deal where Volkswagen will buy controlling share in the sports car manufacturer by axing its own CEO – Wendelin Wiedeking. Porsche officially announced today that Wiedeking, the best-paid executive in Germany, along with finance chief (CFO) Holger Haerter would quit the group immediately. The Piech [...]
A report by Germany’s Der Spiegel says that Volkswagen AG has offered Porsche SE’s controlling families roughly 8 billion euros ($11.28 billion) to buy the company’s sports car business. The report said that the Porsche and Piech families will agree on the deal as early as July 23. When it’s all said and done, Volkswagen [...]
German Business weekely WirtschaftsWoche reported yesterday that Porsche CEO Wendelin Wiedeking, who opposes a merger with Volkswagen, would leave his position and would be replaced by an interim CEO until a successor is chosen. According to Automotive News, Porsche has now denied reports that Wiedeking will leave the sports car maker after Volkswagen AG takes a 49 [...]
Well, it seems like Volkswagen and Porsche have worked out their differences. What seemed to be a forced relationship on Porsche’s side by taking majority share in Volkswagen, V-dub CEO Martin Winterkorn is now hailing cooperation between the two companies. “Our integration has come a long way in the last few months and I am [...]
Porsche CEO Wendelin Wiedeking was not at the launch of the 2010 Porsche Panamera at the 2009 Shanghai Motor Show. According to Abendzeitung daily newspaper, Wiedeking was absent because of an agreement between Wolfgang Porsche and his cousin, Volkswagen Chairman Fedinand Piech, that Wiedeking should be replaced by Volkswagen CEO Martin Winterkorn. Today, Porsche and Volkswagen denied [...]
