Former Porsche CEO, Wendelin Wiedeking, has founded an Italian restaurant chain which will have outlets in Germany, Austria, and Switzerland, with its first restaurant opening next month in Ludwigshafen, Germany.
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Earlier this year, news broke that Volkswagen had plans to to do a full takeover of Porsche, which VW owned 49.9-percent of. But now the former CFO of Porsche, Holger Haerter, is one of three people being charged with fraud in Germany over Porsche’s intent to supposedly acquire VW. According to investors, Porsche had denied...
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Earlier today German federal prosecutors raided Porsche’s offices in Stuttgart in search of documents that would reveal illegal business practices. The raid stems from Porsche’s failed takeover attempt of Volkswagen, with the prosecutors office alleging, “a breach of public disclosure requirements and market manipulation.” In a statement released by Porsche the German sports car maker...
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Volkswagen continues to call it an “integration”, but the company’s business relationship with Porsche is undeniably a takeover. Today VW agreed to buy a 42 percent stake in the sports car maker, paying $4.7 billion for the huge chunk of Porsche. Not satisfied it’s a takeover? Well, how about the fact that Volkswagen’s Chairman Dr....
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Several months ago Porsche was poised to buy Volkswagen. Today Volkswagen received the approval it needed to do just the opposite. A “supervisory board” meeting, comprised of board members from both Volkswagen and Porsche, as well as the Porsche and Piëch families and the German State of Lower Saxony, today gave unanimous consent to a...
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Porsche CEO Wendelin Wiedeking is leaving his position at the helm of Germany’s most renowned sports car maker and he isn’t leaving voluntarily. Wiedeking was sacked by the Porsche’s executive board late yesterday so that the company could move forward with a “merger” with Germany’s largest automaker, Volkswagen. The now former CEO opposed the deal...
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