Porsche CEO scolds negative board members
June 22, 2009 by Matt Brogan
Porsche CEO Wendelin Wiedeking has scolded two of the company’s board members for speaking publicly about the its weakened financial standing.
The exact condition of Porsche’s fiduciary position is being kept quiet as the German marque struggles following its failed US$12 billion takeover of Volkswagen Auto Group.
This silence however was short-lived with IG Metall union boss Bertold Huber and Volkswagen AG Chairman Ferdinand Piech, also a part owner of Porsche, speaking to a German newspaper last week regarding the group’s latest fiscal woes.
The pair received disciplinary letters, the content of which is undisclosed, from Mr Wiedeking after going public with the negative comments.
The news comes on the same day as Volkswagen announced it will temporarily close its Mexican plant until August while Qatar investment group and Daimler both eye a further stake in Porsche.
Porsche is currently trying to secure US$2.4 billion in government loans to fill a US$3.5 billion cash shortfall.
Print it: 
While I will never be able to afford to buy a Porsche, I hope they survive and prosper. I read once that Porsche was or is the worlds most profitable car company. I hope they trade out of it.
*****PRIMO!*****
Congrats. to C/A for having the guts to publish this!
Thought you where just going to sweep it under the carpet and pretend it would go away.
We need to kept in the loop no matter what the current situation, the guys a fool, its public knowledge!
The Arabs are looking at buying a % of it.
I suppose thats better than having the Chinese as masters?
I would like to see a $69k Porker, something like a Lotus Elise fighter, get the volume up and all will be taken care of [Or sell less for more coin!]
Time will tell!
Cheers
F-0
^^^^^^MadMax
Don’t be so negative!!, you can buy a 924 for $5k, a 944 for $15k, a 928 for $20k, a 911 for $30k and a Boxster for $45k.
Always get the DNA linked one, a VW Beetle!
See, you can afford one!
Cheers
F-0
Dont worry, the panamera is an awsome car and will save porsche just like the Boxster and cayenne before it. Wiedeking is no dummy
While I admit to disliking Porches, I do conceed that they are indeed a reliable supercar. They will survive, but why you would want one down under on your lacklustre roads is beyond me.
Regards Jeremy.
Porsche is one of the best cars in the world. And not all can afford to buy one but it doesn’t mean that we can’t wish for it.
CEO was right to scold 2 board members because they were not given authority to say so. If they were professionals, they should have kept mum about it.
But I’m positive that Porsche can handle and cope with this dilemma.
Jeremy Clarkson Says:
June 22nd, 2009 at 7:55 pm – While I admit to disliking Porches, I do conceed that they are indeed a reliable supercar. They will survive, but why you would want one down under on your lacklustre roads is beyond me.
Good one Jeremy,thats exactly why us Aussies have large sedan car culture,with big engines and robust build to take on the ruff aussie outback and not fall apart like your pissy euro trash,the japs do a better job than you lot.
To Troppa, I dont think you are on topic at all there.
However, you do seem to agree that the Aussie roads are not great, thanks. Also, might I suggest that you stick to your tractor.
Yea Dick,our roads are crap but we can drive 2000km in one direction without having cross a boarder,or having to put snow chains on,cool hay.My tractor is a Massey Ferguson it the only euro thing that can handle the bush,and I don’t drive it on the road,thats what a car is for.