The soap opera surrounding Volkswagen AG and Porsche has just taken a turn for the legal, as Bloomberg reports that the company's German offices have been raided by prosecutors who are investigating whether the automaker has violated security laws.
It was really just 35 words that announced the ends of two careers at Porsche: "In the last weeks Wiedeking and Härter have come to the conclusion, that the further strategic development of Porsche SE and Porsche AG is better off, if they are not on board as acting persons." And so, effective immediately, they aren't. The man who would be was king, Wendelin Wiedeking, and his majordomo CFO Holge Härter, have retired from Porsche with immediate effect.
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