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Volkswagen Now Likely to Swallow Porsche

Porsche's Wiedeking may fall over failed bid to buy bigger VW.

by on Jul.20, 2009

Wendelin Wiedeking has helped turn Porsche into one of the world's most profitable automakers. But he could take the fall for an abortive bid for VW.

Wendelin Wiedeking has helped turn Porsche into one of the world's most profitable automakers. But he could take the fall for an abortive bid for VW.

Is the man responsible for Porsche’s dramatic success, over the last decade, about to take the fall for the German maker’s bold but seemingly futile David-v-Goliath bid to acquire rival Volkswagen?

But from a financial standpoint, at least, Wendelin Wiedeking could make out well should he be forced out as Porsche’s chief executive officer, according to industry sources, who say the hard-driving German manager could claim millions for, among other things, the profit sharing bonuses he’d have stood to collect had he completed a contract now set to expire in 2012.

Must-know news!

Must-know news!

For months, VW and Porsche have been locked in a bitter battle for control that is, in many respects, a familial melee, the latest in a long-running dispute between the two wings of the Porsche fortune.  Ferdinand Porsche helped create both VW – where heir Ferdinand Piech reigns supreme – and Porsche – where Wolfgang Porsche serves as chairman.

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