When Porsche CEO, Wendelin Wiedeking announced last week that Porsche plans to increase its stake in Volkswagen from 31 to over 50 percent this year, we were wondering what Volkswagen thought about the statement.
According to German publication Der Spiegel, Volkswagen’s CEO, Martin Winterkorn, has threatened to resign if Porsche interferes with the group’s operations. The report said that managers at Audi and Volkswagen are worried that the brands could be the first ones to be affected by Porsche increases its stake over 50 percent.
Wiedeking said last week that once Porsche increases its stake to be the majority shareholder of V-dub, both companies will grow on their own paths but under the Porsche name.
“Porsche will also remain Porsche in the future. And Volkswagen will also remain Volkswagen. That is the success formula,” said Wiedeking.
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Source: Automotive News (Subscription Required)