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Wendelin Wiedeking sat at the helm of Porsche for 16 of the company's most successful years. Under Wiedeking's watch, Porsche blessed the world's roads with the Boxster, Cayman, Carrera GT, Cayenne and now the Panamera. According to Wiedeking's lawyers, he Porsche and Piech families thought that was enough to warrant a 140 million euros ($199 million) payment to get the successful leader to leave the company.

Wiedeking was reportedly standing in the way of a deal between Porsche and Volkswagen, making his departure a something of a necessary evil. Porsche's labor reps didn't feel Wiedeking's dismissal was worth 140 million euros, so the company instead offered 50 million euros ($73 million). That's still an awful lot of money – especialy for a company that celebrates when it his 100,000 vehicles per year, and Wiedeking apparently agrees. The now ousted CEO claims that he'll give half the money to charity; a move that will likely win him a few new friends.

[Source: Automotive News - subs req'd | Image: Miguel Villagran/Getty]


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  • 12 Comments
      • 6 Years Ago
      A couple of minutes spent proofreading really would have helped this article.
      • 6 Years Ago
      Everytime I see that guy he reminds me of Hogan's Heroes.
      • 6 Years Ago
      Wow, you could buy a lot of Ferraris and Lamborghinis with that kind of cash!
      • 6 Years Ago
      I'd love to see the Wagoner do the same. It's not like you can burn through so many millions in a lifetime. You know, on a comfortable lifestyle.
        • 6 Years Ago
        Yeah... Wagoner got approximately 1/25th of what this guy got for ruining Porsche. He's only giving half of it to charity to offset the taxes on the first 100 million.
        • 6 Years Ago
        @dave1w41

        And how much have you given to charity? Was it 50% of your income? Maybe they should have given him nothing that would be good for the charities, right?
      • 6 Years Ago
      That is too much money regardless of his past company saving work......
      • 6 Years Ago
      1/2 of which, the 140million Euros or 50million ?
      • 6 Years Ago
      Ahh...Its all become obvious now. He needed the truck loads of cash to invest in new hair treatment for himself.
        • 6 Years Ago
        And a nip/tuck to get rid of the turkey neck...
        • 6 Years Ago
        Shifty, he should really just go out and buy a whole new body now shouldn't he!