Porsche CEO Wendelin Wiedeking and finance chief Holger Haerter will leave the company immediately, the German sports car maker has announced.
Porsche’s production chief Michael Macht will replace Mr Wiedeking. Thomas Edig, head of human resources, will be his deputy.
Mr Wiedeking, who lead the charge in Porsche’s ill-fated takeover attempt of Volkswagen AG, has accepted compensation of 50 million euros, the company said in a statement. Mr Haerter will receive 12.5 million euros.