Porsche CEO Wendelin Wiedeking to leave its position
By Andrew C., 30 Aug, 2010. 0 Comments
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Porsche CEO Wendelin Wiedeking is expected to soon succumb to pressure from the Porsche family to resign, according to reports from Germany. It was under Wiedeking's leadership that Porsche incurred a €9 billion debt while also rejecting a planned merger with VW. The source of these reports has said that Wiedeking and the Porsche family have already come to an agreement and that this
Thursday's board meeting will only serve to formalize it. Meanwhile, Porsche has not confirmed these reports. A spokesman said that Wiedeking is scheduled to present his proposal for a future business concept this Thursday.
There have been claims that a deal had been reached between Porsche and VW but a possible dealbreaker could be the €3 billion tax bill linked with a takeover.
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