Filed under:
Porsche,
Volkswagen
If the rumored deal for
Volkswagen to consume Porsche is indeed accurate, then there are only two things left: the shouting, and the sound of Porsche CEO Wendelin Wiedeking departing his post in a Brinks truck filled with €100 million ($141M USD). German newspaper
Bild am Sonntag reported "it is now no longer a question of if, but of how Wendelin Wiedeking will step aside, and that he will clear his desk voluntarily in the coming week."
Over his 16-year tenure at the top, Wiedeking has turned Porsche from an automaker offering one iconic car and a couple of others into the maker of one iconic car and several hugely profitable models. Still, his departure now comes after driving Porsche to the brink, and if €100M sounds like a lot of money to leave in humble circumstances, well, that's because it is.
Yet, if
this report is to be believed, it's not an outrageous sum in the world of Wiedeking: his pay packet for 2007 was said to amount to €60M ($85M USD). No matter what he gets, and it will certainly be substantial, he will leave behind a company subsequently controlled by its mass market sibling. And although Porsche labor boss Uwe Heck said, "VW will never be able to buy the souls of Porsche employees," their time, their cars and their technology are another story.
[Source:
Drive.com.au | Image Source: Alexander Hassenstein/Getty]
Porsche's Wiedeking tipped to get $140M golden parachute? originally appeared on
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20-07-2009, 06:20 PM
