Both resign from their respec-tive seats at the Supervisory Board of Volkswagen
AG and Audi AG. In the last weeks Wiedeking and Haerter 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. They both see
that step as a significant con-tribution to the appeasement of the situation
and to support the forming of an integrated car manufacturing company. Both
gentlemen will accompany the handover at the Board of Management level positively
and support their respec-tive successor in their tasks. Wendelin Wiedeking
in his functions as CEO Porsche AG will be followed by Michael Macht, currently
Board member of Porsche AG in charge of Production and Logistics. Thomas
Edig, Board member in charge of Human Resources of Porsche AG will become
his deputy. Furthermore Macht and Edig have been appointed as Members of
the Board of Management of Porsche SE, Macht in charge of technology and
products, Edig with responsibility for commercial is-sues and administration.
The Supervisory Board expressed its thanks to both Board members resigning
from office for their long lasting work. The Board has offered Dr. Wiedeking
a compensation for the termination of his contract, originally maturing 2012,
of Eu-ros 50 million. Wiedeking accepted this proposal as well as Holger
P. Haerter, who was offered a compensation of Euros 12.5 million. Both Wiedeking
and Haerter waived rights deriving from their current contracts in a substantial
amount.
Dr. Wiedeking was appointed CEO of Porsche AG on October 1 1992. After
successfully turning around the company he managed to make the Stuttgart
ba-sed manufacturer of sporty luxury cars the most profitable car company
in the world. In September 2005 Porsche made public a 20 percent stake in
common shares of Volkswagen AG. As a consequence Wiedeking joined the VW
Super-visory Board in January 2006. After the forming of Porsche Automobil
Holding SE in November 2007 he also took over the position of Chairman of
the Board of Management in this Holding company that alongside 100 percent
in Porsche AG today also owns 50.76 in VW AG.
Holger P. Haerter joined the Stuttgart based company in 1996 as Member of
the Board of Management in charge of Financing and Accounting as well as
Sour-cing. Similar to Wiedeking he sits on the Supervisory Board of Volkswagen
AG. In November 2007 he was appointed member of the Board of Management in
charge of Finance of Porsche SE and Deputy Chairman of the Board of Man-agement
by the Supervisory Board.
Michael Macht, born in Stuttgart in 1960, studied Mechanical Engineering
at Stuttgart University and was scientist at Fraunhofer Institute for Industrial
Engi-neering IAO, before he started his career at Porsche AG in 1990, becoming
spe-cialist for engine planning. After serving as Director’s Assistant
with respect to production and materials management, concept and the organization
of the PVP Porsche improvement process, he became Chairman’s Aisstant,
developing and implementing the so called P.O.L.E. program, short for process
optimization through supplier integration. In 1994 he was promoted to Managing
Director of the freshly founded Porsche Consulting GmbH and in 1998 became
Member of the Board of Management in charge of Production and Logistics of
Porsche AG. His work is centered around increasing efficience in production.
Macht was in charge of the building and start of operation for the Leipzig
factory as well as the wramp up of the model lines Cayenne and Panamera.
Thomas Edig was born 1961 in Stuttgart. After graduating in Business
Admini-stration from the University of Cooperative Education in Karlsruhe
in 1986, he was employed at Alcatel SEL AG in Stuttgart. Following a number
of promotions, he became member of the Board and HR Director in 1998, before
being ap-pointed to the Executive Board of Alcatel in Paris in 2002. After
an intermezzo at Deutsche Telekom AG in Bonn in 2006 he was employed at Porsche
AG. In May 2007 he has been appointed a Member of the Board responsible for
Human Re-sources and Labor Relations Director. |
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