Volkswagen group's global vehicle sales fell 5 percent to 3.1 million in the first half, but the company's nine brands, which will soon include Porsche as a 10th marque, boosted market share. By comparison, General Motors Co.'
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The corporate drama that is the Porsche-Volkswagen affair, which yesterday saw the departure of Porsche chief executive officer Wendelin Wiedeking after 16 years with the company and the move to merge the sportscars brand into the VW portfolio, put the stock market to confusion.
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In today's News Brake: Cadillac gets a new chief, Porsche's top man is gone, and shots of the new Saab 9-5 . . . But Wait, There's More!
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Volkswagen's supervisory board has backed the creation of an integrated automotive group with Porsche under the leadership of VW whose management board will now begin talks with the sportscar maker's new chiefs to jointly draw up final details.
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Porsche chairman Wendelin Wiedeking has bowed to mounting pressure in announcing that he will step down immediately.
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Volkswagen Chairman Ferdinand Piech tightened his grip over Porsche on Thursday after the sports car maker's CEO was ousted following a power struggle to keep Porsche independent.
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Volkswagen Chairman Ferdinand Piech tightened his grip over Porsche on Thursday after the sports car maker's CEO was ousted following a power struggle to keep Porsche independent.
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As widely speculated, Porsche SE chief executive officer Wendelin Wiedeking has left the sportscar maker after 16 years, the latest twist in a corporate drama which started with Porsche's audacious attempt to buy the mighty Volkswagen AG and is likely to end in a merger of the two after debts spiraled out of control.
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Sports car maker Porsche conceded a months-long power struggle to mass-market rival Volkswagen by axing its CEO. Porsche said it would raise at least 5 billion euros ($7 billion) in equity as the two prepared for a merger.
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Sports car maker Porsche conceded a months-long power struggle to mass-market rival Volkswagen by axing its CEO. Porsche said it would raise at least 5 billion euros ($7 billion) in equity as the two prepared for a merger.
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Porsche conceded a months-long power struggle to Volkswagen by axing its CEO Wendelin Wiedeking and finance chief Holger Haerter.
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Porsche conceded a months-long power struggle to Volkswagen by axing its CEO Wendelin Wiedeking and finance chief Holger Haerter.
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Volkswagen chairman Ferdinand Piech once said of Wendelin Wiedeking that the one thing the CEO of sports car maker Porsche lacked was a real failure. Not any more.
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Volkswagen chairman Ferdinand Piech once said of Wendelin Wiedeking that the one thing the CEO of sports car maker Porsche lacked was a real failure. Not any more.
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Porsche Automobil Holding SE axed its CEO and said it will seek at least 5 billion euros (about $7.1 billion) in fresh funds, setting the stage for a merger of the German sports car maker with mass-market rival Volkswagen AG.
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Porsche CEO Wendelin Wiedeking and finance chief Holger Haerter will leave the company immediately, Porsche announced. Porsche's production chief Michael Macht will replace Wiedeking. Thomas Edig, head of human resources, will be his deputy.
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Porsche CEO Wendelin Wiedeking and finance chief Holger Haerter will leave the company immediately, Porsche announced. Porsche's production chief Michael Macht will replace Wiedeking. Thomas Edig, head of human resources, will be his deputy.
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Porsche conceded a months-long power struggle to Volkswagen by axing its CEO Wendelin Wiedeking and finance chief Holger Haerter.
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Porsche CEO Wendelin Wiedeking is likely to bow to pressure from the Porsche family to step down, a German newspaper report said on Wednesday.
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Talks to strike a deal over the future of Porsche are heating up as rival factions race toward an expected showdown on Thursday.
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