Wendelin Wiedeking will continue on as Porsche’s CEO

Wendelin Wiedeking

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 percent stake in the company. German newspapers Financial Times Deutschland and the Die Welt reported today that the Porsche and Piech families that control Porsche have agreed on Volkswagen Chairman Ferdinand Piech’s plan to merge Porsche into the Volkswagen Group.

On the other hand, Uwe Hueck, Porsche’s deputy chairman, said that the families that own Porsche have not agreed to join with Volkswagen. He said that the families have both promised to not make a decision before speaking with Porsche’s supervisory board.

Honestly we know what you’re thinking – we can’t wait until Porsche and Volkswagen settle their difference and get this deal done and over with.

– By: Stephen Calogera