The head of Porsche has resigned because of the alliance with Volkswagen Porsche
Kamis, 14 Juli 2011 by admin
Executive Director of Porsche Vindelin Videking resigned. As reported by Bloomberg, along with the board will leave the company and its Chief Financial Officer Holger Haerter. As the experts Videking and Haerter were the main opponents of the forthcoming merger with the corporation Porsche Volkswagen. According to experts, care Videkinga quite logical. "His position led to a split between the families Porsche and Pih, which are co-owners of VW and Porsche, and has a negative impact on the company's working relationship with Volkswagen", - considers the head of the German Center for Automotive Research, Stefan Brattsel. "Videkingu there were no seats in the alliance VW-Porsche", - he added.
Videking went to Porsche for the post of executive director in 1993 when the company was on the verge of bankruptcy. But by 2005, sports producer was one of the most profitable avtokompany in the world. Its revenues Videking decided to send to the acquisition of the group Volkswagen, Europe's largest automakers, with a view to their subsequent absorption.
By the end of 2008, Porsche has consolidated nearly 51 per cent shares of VW, so more spending nine billion euro debt. However, the absorption run sports producer was unable to because of the so-called "Folksvagenovskogo law, which allows the authorities of Lower Saxony (owns 20 per cent stake VW) to veto any decision concerning the fate of avtokontserna.
As a result, the company Porsche, the remainder of the crisis with the 10-billion debt, was forced to seek new partners. In particular, her leadership, the possibility of selling a 25 percent stake to investors from Qatar, and later with a proposal to purchase the company made itself Concern VW, offer for Porsche 10 billion euro.
According to preliminary data, the supervisory board of Porsche, to discuss this proposal at an extraordinary meeting held on Wednesday, July 22, the conditions of VW, and the resignation Videkinga, who was the chief opponent of such a merger is the first step towards a unified company. It is anticipated that the formal decision of the Supervisory Board will be announced on Wednesday
Videking went to Porsche for the post of executive director in 1993 when the company was on the verge of bankruptcy. But by 2005, sports producer was one of the most profitable avtokompany in the world. Its revenues Videking decided to send to the acquisition of the group Volkswagen, Europe's largest automakers, with a view to their subsequent absorption.
As a result, the company Porsche, the remainder of the crisis with the 10-billion debt, was forced to seek new partners. In particular, her leadership, the possibility of selling a 25 percent stake to investors from Qatar, and later with a proposal to purchase the company made itself Concern VW, offer for Porsche 10 billion euro.
According to preliminary data, the supervisory board of Porsche, to discuss this proposal at an extraordinary meeting held on Wednesday, July 22, the conditions of VW, and the resignation Videkinga, who was the chief opponent of such a merger is the first step towards a unified company. It is anticipated that the formal decision of the Supervisory Board will be announced on Wednesday
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