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Wiedeking Is not Giving up Porsche
Wendelin Wiedeking has been Porsche CEO since 1993. During these years he has done a great job: led the company from being a bankruptcy candidate to the status of the world’s most profitable automaker. Until the economic crisis Porsche was on top of success. Lately Wiedeking has been accused to leading the company to a huge debt of more than $12.7 billion in attempt to avoid the merge with Volkswagen.
Porsche CEO has been fighting fiercely against the united companies. Wiedeking was raising funds through deals with the Gulf state of Qatar, but it was not enough. Unfortunately, rich VW will take over 49 percent of the stake even if Wiedeking does not want it.
There has been gossip that Porsche CEO was offered $141 million payoff to step down from his position and allow the companies to merge successfully, but Wiedeking does not comment this information. He plans to stay in the position of Porsche leader till his contract expires in 2012. As for now he says, “I am a happy CEO and feel fit and well in the role”.
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