Wendelin Wiedeking, the talented chief executive of Porsche who revitalized the sports car manufacturer in the 1990s, is widely expected to become the first high-profile casualty of the long Volkswagen-Porsche takeover saga, according to German news reports.
Wiedeking, 56, is preparing to step down after being blamed for saddling Porsche with huge debts to buy VW stock, several reports say, citing anonymous sources.
The weekly Der Spiegel said Porsche's controlling shareholders, descendants of Ferdinand Porsche, have agreed that Michael Macht, head of production, should succeed Wiedeking.
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