Wendelin Wiedeking

from Wikipedia, the free encyclopedia

Wendelin Wiedeking (born August 28, 1952 in Ahlen / Westphalia ) is a German manager . Since 1991 he has been a member of the board , since 1992 board spokesman and since 1993 chairman of the board of Dr. Ing.hc F. Porsche AG . On January 28, 2006, he became a member of the Supervisory Board of Volkswagen AG , and in 2007 also became Chairman of the Board of Management of Porsche Automobil Holding SE. On July 23, 2009, he resigned from his post.

Life

education

Wiedeking grew in Beckum and studied after 1972 Beckum also in the Albertus-Magnus-high school high school graduation engineering at the RWTH Aachen . After the diploma in 1978, he remained at the RWTH Aachen University Laboratory for Machine Tools as a researcher, where he in 1983 summa cum laude for Dr.-Ing. received his doctorate . Then Wiedeking worked as a consultant to the board of directors for production and materials management at Porsche .

In 1988, Wiedeking moved to GLYCO Metallwerke KG and one year later became a member of the management team for the technology division , then during the phase of the takeover of the family business by an American company and, after the family shareholders had left, briefly chairman of the board of the renamed AG .

Board member at Porsche

After returning to Porsche in 1991, he became a member of the Board of Management for Production and Materials Management. In September 1992, Porsche separated from the chairman of the board, Arno Bohn, and appointed Wiedeking as spokesman for the board. Wiedeking carried out extensive restructuring measures , took over the chairmanship on August 1, 1993 and brought Porsche out of the red. The stock market value of Porsche rose from 300 million euros to around 25 billion euros in 2007.

Due to the poor economic situation of the car manufacturer at the time of Wiedeking's appointment as CEO, the company could only pay him a low fixed salary. This led to the unusual contractual agreement according to which Wiedeking was granted a profit-sharing bonus of 0.87% of pre-tax profit for a low fixed salary . In return, Wiedeking assumed personal liability for the company's obligations . During the restructuring phase, the profit sharing mentioned was relatively low; in later business years it was very high (see below).

Wiedeking expressed disapproval of EU emissions plans several times and described them as an "economic war" against German car manufacturers in the premium segment.

Wiedeking was often traded as a candidate for leading larger automakers (most recently at Volkswagen as a possible successor to Ferdinand Piëch ), but was not interested in it. In 2005 he arranged for Porsche to participate in Volkswagen. In May 2008, the Porsche supervisory board commissioned Wiedeking to take over the majority of Volkswagen AG through its own bank, Maple Bank (subsidiary of the Canadian Maple Financial Group) . However, during the financial crisis and the economic crisis in 2009 , sales at Porsche fell drastically. Since the VW takeover was financed with loans, debts of 10 billion euros accumulated. Wiedeking then campaigned for a capital injection from Qatar . His takeover course came under fire; especially VW supervisory board chairman and Porsche co-owner Ferdinand Piëch opposed his plans.

On July 23, 2009, Porsche announced that Wiedeking was terminating his employment contract at his own request and was leaving Porsche. He received a severance payment of 50 million euros, which he wanted to use, among other things, to set up a charitable foundation . It is to be endowed with 25 million euros and, in his words, support “socially just development at all Porsche locations”. Wiedeking also announced that the Landespresse Baden-Württemberg e. V., the Hamburg Press Foundation and the Association of Colleagues Aid from Lower Saxony Journalists e. V. to donate a total of 1.5 million euros.

Due to the high income of the company in connection with the above-mentioned variable remuneration agreement, Wiedeking's salary amounted to 100.6 million euros according to the 2007/2008 annual report. Particularly in the light of the crisis in the Porsche group in 2009, Wiedeking's salary, which is very high in an international comparison, was criticized on various occasions. Of this, 53 million euros was based on the profit-sharing agreement from the 1990s. With the aforementioned salary, Wiedeking was one of the best-paid managers in the world at the time. At 1.264 billion euros for personnel expenses in the Porsche group, this would correspond to a share of around 4.7% or 0.9% of profit.

In 2009, the Stuttgart public prosecutor against the former determined Porsche manager Wendelin Wiedeking and Holger Härter on suspicion of embezzlement and market manipulation and unauthorized disclosure of inside information. The proceedings were partially discontinued in August 2010, only the investigations into the market manipulation continued and led to indictments in December 2012 . On April 25, 2014, the Stuttgart Regional Court decided not to admit the indictment to trial. The Stuttgart Higher Regional Court overturned the decision of the Regional Court in 2014 and decided to open proceedings before the Economic Criminal Chamber . The proceedings, in which the public prosecutor's office had demanded a prison sentence of two and a half years against Wiedeking, ended on March 18, 2016 with an acquittal by the Stuttgart Regional Court for Wiedeking and Härter. The prosecution appealed against the judgment revision to the Federal Court , but withdrew it in July 2016 back. The public prosecutor justified the withdrawal of their revision with insufficient prospects of success; The Federal Supreme Court's hands are tied due to the limited possibilities of the right of appeal and the resulting limited verifiability of the judgment.

Others

At the suggestion of the CDU parliamentary group in Baden-Württemberg, Wiedeking took part in the 12th Federal Assembly (2004) to elect the German Federal President.

In the semi-annual survey “Managers by grades” by the consulting firm Marketing Corporation, in which 1000 managers are surveyed, he received the second best rating on average at the end of 2007 and was thus the top manager in Germany with the second highest reputation among colleagues. In mid-2009, it slipped to 12th place in the survey, with even the best-rated Martin Winterkorn ( Volkswagen ) being rated 3.3, almost one grade lower than in previous surveys.

Wiedeking has held a 30% stake in the Heinrich Dinkelacker shoe manufacturer since 2005 , which is based in his home town of Bietigheim-Bissingen . He also invests in internet companies such as the largest online holiday home broker, e-domizil GmbH & Co. KG.

He has been building the Tialini restaurant chain since 2013. Initially, the company was supposed to operate under the name Vialino , which its competitor Vapiano successfully prohibited. In 2016 there was another name dispute, this time between Wiedekings Systemgastronomie and the neighboring Pizzeria Vinolio. The former argued that the name of the restaurant sounded too much like the Pizza Vialino offered by Tialini.

Wiedeking established two charitable foundations in 2008 and endowed them with 5 million euros each from his private assets. The foundations in his hometown Beckum and his long-term residence in Bietigheim-Bissingen pursue exclusively charitable purposes and their main goal is to support families, children and young people in need. Among others, the Seehaus Leonberg and the youth welfare center Sperlingshof are supported.

Private

Wiedeking is married and has a daughter and a son. In his free time he collects model cars, model trains and drives Porsche tractors . He lives in Bietigheim-Bissingen in Baden-Württemberg .

Awards

Works

literature

Web links

Wikiquote: Wendelin Wiedeking  - Quotes

Individual evidence

  1. ↑ Macht becomes CEO of Porsche AG, Edig his deputy - both were also appointed to the executive boards of Porsche SE ( Memento from September 4, 2010 in the Internet Archive )
  2. ↑ C. Elflein, J. Hirzel, N. Husmann, T. Treser: Operation Comeback , Focus 46/2011, November 14, 2011, pp. 158ff.
  3. ↑ Bad Millions , Spiegel Online , December 10, 2007
  4. ^ Christian D. Euler: Porsche and Volkswagen: two groups, two families - one passion , Verlag John Wiley & Sons 2010, ISBN 3527505237 , p. 122 f.
  5. ↑ CO2 DISCUSSION: Wiedeking accuses EU politicians of economic war , Spiegel Online, March 26, 2007
  6. ^ Joachim Jahn: Finanzaufsicht closes Maple Bank in Germany. In: FAZ.net . February 7, 2016, accessed October 13, 2018 .
  7. ^ End of the line for the "marching through" ( memento of July 24, 2009 in the Internet Archive ), tagesschau.de , July 23, 2009
  8. ↑ Wording: Wiedeking's declaration of resignation. Der Spiegel, July 23, 2009, accessed August 10, 2014 .
  9. ↑ Ex-Porsche boss: Wendelin Wiedeking earned over 100 million euros - in one year. Spiegel-Online, January 16, 2015
  10. ^ Daniel Schönwitz: Aktienrechtler: Wiedeking-salary "immoral" , Wirtschaftswoche , June 5, 2009
  11. ↑ Süddeutsche Zeitung of December 9, 2007 ( Memento of October 11, 2008 in the Internet Archive )
  12. ^ Public prosecutor's office has Wiedeking in its sights - autohaus.de. Retrieved March 14, 2017 .
  13. ↑ Frankfurter Allgemeine Zeitung of February 25, 2011, p. 17.
  14. ↑ Two out of three proceedings against Wiedeking are closed , on spiegel.de on August 27, 2010
  15. ↑ Public prosecutor accuses ex-Porsche boss Wiedeking in T-Online / Wirtschaft dated December 19, 2012
  16. ↑ Frank Dohmen, Dietmar Hawranek: Failed VW takeover: Ex-Porsche boss Wiedeking escapes proceedings. In: Spiegel Online. April 25, 2014, accessed on April 25, 2014 : "The decision of the Stuttgart Regional Court not to admit the indictment to the proceedings will also have consequences for several damages litigation against Porsche SE."
  17. ↑ sueddeutsche.de August 26, 2014: Wiedeking has to go to court
  18. ^ SPIEGEL ONLINE, Hamburg Germany: Ex-Porsche boss: acquittal for Wiedeking final. In: SPIEGEL ONLINE. Retrieved September 24, 2016 .
  19. ↑ Spiegel Online from December 22, 2007
  20. ↑ Focus 27 (2009), p. 106
  21. ↑ Frankfurter Allgemeine Sonntagszeitung, mec: Wedekings Shoes, January 18, 2009, page 36
  22. ↑ FAZ from October 6, 2008
  23. ↑ Claus Hecking: Ex-Porsche boss: What became of ... Wendelin Wiedeking? In: Spiegel Online . July 23, 2014 ( spiegel.de [accessed March 6, 2018]).
  24. ↑ Wendelin Wiedeking: Ex-Porsche boss leads name dispute over pizza | STERN.de . In: stern.de . December 3, 2016 ( stern.de [accessed December 29, 2016]).
  25. ↑ RP hands over certificate of appreciation for the highly endowed "Wiedeking Foundation Beckum" ( Memento from July 23, 2012 in the web archive archive.today )
  26. ↑ Wiedeking Foundation supports the Seehaus Leonberg
  27. ↑ Wiedeking and Hück visiting the Sperlingshof ( Memento from May 8, 2014 in the Internet Archive )
  28. ^ "German Image Award 2002 for Porsche" , baden-wuerttemberg.de
  29. ↑ List of all decorations awarded by the Federal President for services to the Republic of Austria from 1952 (PDF; 6.9 MB)
  30. ↑ uni-protocol.de: HHL awards Nobel laureate Spence and Porsche boss Wiedeking with an honorary doctorate . March 14, 2005 - (idw) Leipzig Graduate School of Management
  31. ↑ Wendelin Wiedeking - WHO'S WHO biography. In: whoswho.de. Retrieved December 4, 2018 .
  32. ↑ Wiedeking "Manager of the Year 2008" ( Memento from September 6, 2012 in the web archive archive.today )
  33. ↑ Review: "The career ring from Beckum" , Die Welt , October 13, 2003
personal data
SURNAME Wiedeking, Wendelin
BRIEF DESCRIPTION German manager, CEO of the automobile manufacturer Porsche
DATE OF BIRTH August 28, 1952
PLACE OF BIRTH Ahlen , Westphalia