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]
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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