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Porsche CEO resigns

By Matt Brogan |

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.


 
  • jbot

    I’d happily stand down too for a 50 million euro payout!!

  • Captain Mainwaring

    Shafted the company, gets 50 million euros as a reward.
    What are the rest of us doing wrong?

  • http://Caradvice.com.au Baddass

    He looks so sad! Poor babyface!

  • marblebar

    At least it is not just Australia/US that has allowed such a farcical situation to develop.
    WE are rapidly approaching the need for a revolution – look no further than Japanese company salary structures.

  • MrQuick

    You might all like to know that he just announced that he is pledging half of his 50 Million Euro payout to a charity that assists job creation in Germany.

    End of an era, he did so much for Porsche.

    He’s only 56 too, so his career is far from over so expect him to be back.

  • Marcoz

    bloody hilter strikes again…lol
    sorry but you gotta admit he does resemble him…come on…

    Marblebar, i agree about japanese structure too.

    This guy almost sinks porsche into liquidation but also gets paid out 50mill euro for doing it, Oh how nice he is buy giving half of it away to charity…BSSSS..
    sorry but isnt charitable dontations 100% TAX DEDUCTIBLE???Hmmmm..he not charitable..he smart…