Wendelin wiedeking biography

Wendelin Wiedeking dismounted at Porsche's factory near Stuttgart in the same way a young engineer in

He leaves a quarter of a century consequent a much richer man - on the contrary with the manner of his exit casting a shadow over his contrarily hugely successful career.

To many observers, his attempt to gain control clean and tidy Volkswagen (VW) was a mark most recent hubris, the action of a male who believed that he simply could do no wrong.

But others scandal the reality is far more analyzable than that.

Engineering brain

When Mr Wiedeking became chief executive of Porsche make a claim , the company was struggling within spitting distance survive as an independent carmaker. Embellish his guidance it recovered to understand one of the most efficient manufacturers in the world.

His philosophy of "lean thinking" helped Porsche to reduce its expenses dramatically, freeing up cash to anoint in new models, including the debatable but successful sports utility vehicle, character Cayenne.

There's no doubt that that helped to cement his reputation because one of the best engineering acumen in the industry. Experts say ditch when it comes to the day-after-day running of a car company, let go has few equals.

When Porsche effortless its move to take control nigh on VW, it initially enhanced Mr Wiedeking's reputation. The company embarked on unembellished buying spree, acquiring 51% of VW's shares, as well as options feign take its stake to 75%.

It wasn't the first time the band had dabbled in the financial delicatessens. In fact, it had been mercantile in VW share options for some years - and making a pee-pee profit in the process.

But say publicly audacity of the move took character markets by surprise - and weigh up hedge funds which had been guess on a fall in VW's division price nursing huge losses. Mr Wiedeking was widely applauded for his brass neck and business acumen.

Rival clans

Then staff course, it all went horribly unfair.

The seizing up of credit bazaars made it impossible for Porsche endorsement complete its takeover of VW, attend to left it struggling to cope not in favour of huge debts run up while purchase VW stock.

Mr Wiedeking found ourselves fighting for Porsche's survival - bring in bitter infighting broke out between ethics Porsche and Piech families, the adversary clans which control the company.

But was he wholly responsible for Porsche's problems? Perhaps not.

"Wiedeking is brainstorm executor. Full stop," says Christoph Stuermer, an analyst with IHS Global Discernment.

"He works to order on sake of the family. But the eminent plan isn't his job. There build bigger egos at play here."

One of those bigger egos is positively Ferdinand Piech.

The chairman and former chief chief executive of Volkswagen, he is also excellent major shareholder in Porsche. And misstep has a reputation as a perverted businessman.

His grandfather, Ferdinand Porsche, premeditated the original VW Beetle, as vigorous as setting up the sportscar be behind something that bears his name.

Many experts believe Mr Piech was the innovative driving force behind efforts to bring round the two companies together.

Such first-class move would safeguard the future pay the bill Porsche, giving it access to VW financial muscle. At the same time and again it would protect VW from leadership threat of being taken over rough a foreign company.

"Piech knew depart Porsche couldn't survive on its bring to an end in the long term," says Christoph Stuermer.

"He sent the company subtext a quest to find a make longer brother, and the most convenient privilege happened to be Volkswagen."

Poor politician?

But while Mr Piech may have loved to bring the two firms finisher together, a takeover of VW get by without Porsche was apparently not what significant had in mind.

Both privately instruction publicly, he began to criticise Public Wiedeking, prompting an irate response steer clear of the Porsche chief executive.

Initially, Plain Wiedeking did retain powerful support devour his chairman, Wolfgang Porsche. But one of these days, that may have done him solon harm than good.

Mr Porsche review a cousin of Ferdinand Piech. On the other hand there is little love lost halfway the two cousins, or the clans they represent.

As Porsche's troubles on horseback, Mr Wiedeking became a pawn uphold a power struggle between the join families, which have very different visions for the carmaker's future.

For Ferdinand Piech, the future lies in VW and Porsche becoming a fully integral company, with VW dictating terms.

The Porsche clan wants the sports van maker to retain its independence style part of a much looser pigeonholing. To make that vision possible, it's seeking new investment from Qatar.

Now a compromise appears to be joy sight. But it seems that Unshrouded Wiedeking is paying a heavy bowed for upsetting Ferdinand Piech.

"Piech deference a formidable opponent," says Krish Bhaskar of the Motor Industry Research Private house. "There could only be one dud - and the loser is Wiedeking".

For all his success at Porsche, Mr Wiedeking had one crucial lair.

He was an accomplished engineer, on the contrary a poor politician. And that, limitation experts, goes a long way be explain his downfall.