Clash of the Teuton Titans
Auto Motor und Sport reports that former VW Chairman and legendary ego Ferdinand Piech claims to want to replace Wendelin Wiedeking as the top dog at Porsche Holdings SE, which controls Porsche and VW. But this isn’t about Piech, claims Piech, it’s about Wiedeking. Though Wiedeking transformed Porsche into a profit-monster and is currently considered the highest-paid executive in Europe, he’s done nothing but make enemies since the Porsche/VW anschluss. He’s alienated powerful union bosses as well as VW managers by demanding higher profitability, and calling the futures of the Phaeton and the SEAT brand into question. Not to mention helping bring an end to the company-funded bordello visits and shopping sprees for union leaders. But politics matter at VW, and reports have surface that Wiedeking’s ascent to the VW oversight board planned for this month has been called into question. The Braunschweiger Zeitung even reports that GM-Europe boss Carl-Peter Forster could replace Wiedeking, in order to keep Piech and his ally VW CEO Martin Winterkorn at bay. But for the present, the paterfamilias Wolfgang Porsche has announced he’s sticking by his boy Wendelin. This will keep the Porsche/Piech family in line, but it won’t mollify the powerful VW lifers who feel threatened by their new private owners and calls for higher profits. This could get nasty.