/Porsche: CEO resigns – Qatar deal gets approval

Porsche: CEO resigns – Qatar deal gets approval

Wendelin Wiedeking at Porsche: CEO resigns   Qatar deal gets approval

Wendelin Wiedeking, the man who ran Porsche for many many years and was responsible for the company’s pathetic try to takeover VW, is now stepping down along with finance chief Holger Haerter. Porsche said in an statement that these two have made “a significant contribution to the appeasement of the situation and to support the forming of an integrated car manufacturing company”.

Of course this contribution has been pretty beneficial for both of them as Wiedeking gets 50 million and Haerter 12 million Euros in compensation.

Michael Macht, company’s production chief will fill Wiedekin’s position, with Thomas Edig, head of human resources as his deputy.

Meanwhile, The supervisory committee of Porsche gives the green light to the management board to seal the the deal with the Gulf state of Qatar. This would help Porsche to settle things down a bit, before they get into talks for VW merger.

Their ultimate goal is to form an integrated group between Porsche SE and Volkswagen AG, which will manage up to ten different brands under one authority.

source: Porsche

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