...Thailand's on-line car magazine for those in the fast lane...! *





Niu's on Silom

Thai Car Co's
Audi
BMW
Chevrolet
Citroen
Ferrari
Ford
Honda
Hyundai
Isuzu
Jaguar
Land Rover
Lexus
Mazda
Mercedes-Benz
Mini
Mitsubishi
Nissan
Peugeot
Porsche
Proton
Royal
Ssangyong
Subaru
Suzuki
Tata
Thairung
Toyota
VW
Volvo
Press Releases
23 Jul 09 13:54
Porsche's Wiedeking and Haerter out.
Automotive News Europe
Range Rover ... the ultimate driving experience in the world's most capable all-terrain vehicles. Join us for an experience you'll never forget...

Visit Land Rover
Porsche "dream team" CEO Wiedeking and Haerter finance boss will leave the company immediately, Porsche announced.


Porsche's production chief Michael Macht will replace Wiedeking. Thomas Edig, head of human resources, will be his deputy.

Wiedeking has accepted compensation of 50 million EUR, the company said in a statement. Harter will receive 12.5 million EUR.

Wiedeking became Porsche CEO in 1992 and led the company from being a bankruptcy candidate to the world's most profitable automaker before the economic crisis hit.

But he was brought down by an ambitious attempt to take over Volkswagen, Europe's largest automaker. Porsche's holding company amassed debts of more than 9 billion EUR buying a 51 percent stake in VW. The debt became difficult to service as Porsche's car sales plunged during the downturn and the company hit difficulties agreeing refinancing packages with banks.
Log in to read and post comments.            Forgot password?
Username   Password    

Not registered yet?? 
Make a two-minutes free registration and get access to all.
User comments
Please log in to post comments
View latest comments

Front Page   Printer-friendly version   Mail to friend
  © 2007-2009 CarSanook.com