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Old 07-24-2009, 02:16 AM   #16
HeilSvenska
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New Porsche chief named. Michael Macht, the production manager.

New chief holds Pich’s respect

By Daniel Schfer

Published: July 23 2009 19:27 | Last updated: July 23 2009 19:27

Michael Macht’s surname may be the German word for “power”, but in reality, the new chief executive of Porsche will not have much clout.

Once the Porsche sports car business is integrated into Volkswagen, the 48-year-old engineer will be one of Ferdinand Pich’s lieutenants and the head of one of the smaller – although the most profitable – marques that VW owns.

But Mr Macht has earned much respect from Mr Pich, VW’s chairman and a large Porsche shareholder, who likes nothing more than technically versed managers.

Mr Macht has been one of the architects of Porsche’s route to operative success. He was Wendelin Wiedeking’s helping hand in the 1990s, when the former chief executive at Porsche radically revamped Porsche’s production methods, using Japanese carmakers as role models.

Mr Macht has been heading Porsche’s production since 1998, and he was responsible for the production starts of the sports car makers’ third and fourth models, the Cayenne SUV and the Panamera sedan, which will hit the showrooms later this year.

Ever since doubts were raised about the future role of Mr Wiedeking, Mr Macht was the sole contender for the role. He is a respected by both Porsche’s owners and VW’s management.

And he is known for being modest and not as high-handed as his predecessor – crucial traits for a long career in Mr Pich’s empire.

http://www.ft.com/cms/s/0/f836bf6a-7...44feabdc0.html
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Old 12-08-2009, 05:14 PM   #17
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In short, Porsche owes its creditors $17 billion in its failed takeover attempt for the control of Volkswagen. Volkwagen agreed to the merger, but under the condition that Volkswagen takes control of Porsche. With VW's purchase of 49.9% of Porsche, Porsche has officially become part of VAG. Integration of Porsche into the VAG tree isn't due to be complete till 2011, but Porsche CEO and CFO positions have already been taken up by those of VW. VW also announced plans to buy 20% of Suzuki in potential plans to take control of the said company as well.

FRANKFURT (Dow Jones)--Volkswagen AG (VOW.XE) said Monday it has acquired a 49.9% stake in Porsche Automobil Holding SE's (PAH3.XE) core sportscar operations for EUR3.9 billion as planned, and reiterated that the merger with the Stuttgart-based firm is expected to be finalized in 2011.

In a statement, Europe's largest auto maker by sales confirmed it plans to buy the Porsche Holding Salzburg retail operations as the next step.

Last month, Volkswagen's and Porsche's supervisory boards had cleared the way for the tie-up by approving contracts determining details of the complex integration.

The approval drew a line under a fierce power struggle between the two auto makers in recent years.

Porsche initially tried to acquire its much bigger peer, but it ran out of funding as credit markets contracted due to the economic downturn and demand for luxury cars collapsed. Porsche's net debt ballooned to EUR11.4 billion as at July 31. VW is now driving the deal and plans to integrate Porsche's sportscar operations as its 10th brand, along with nameplates such as Audi, Skoda and Seat.

Volkswagen said Porsche "ideally complements the brand portfolio." Porsche will "allow Volkswagen to further expand its position in the premium business."

"In turn, as an independent brand under the roof of the Volkswagen Group, Porsche will have the potential for significant additional growth," Volkswagen said.

The Wolfsburg-based company said the deal will have "a sustained positive effect" on earnings because "with a return on sales of 10.3%, Porsche is the world's most profitable automobile manufacturer."

Volkswagen said the tie-up will create significant income and cost synergies. Due to these synergies Volkswagen's annual operating profit "is expected to increase by some EUR700 million in the long term," VW said, echoing previous statements.
http://online.wsj.com/article/BT-CO-...07-708444.html

http://online.wsj.com/article/SB1000...884631890.html

http://www.reuters.com/article/idUSTRE5B72ZA20091208
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Old 12-08-2009, 09:38 PM   #18
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If "significant income and cost synergies" mean VW door handles or knobs in the GT3, then NO THANK YOU
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Old 12-09-2009, 01:44 AM   #19
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Originally Posted by marcefer View Post
If "significant income and cost synergies" mean VW door handles or knobs in the GT3, then NO THANK YOU
It means that both the next Cayenne, Boxter, Cayenne, Panamera etc. will be thinly disguised VW products, or visa versa.
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Old 12-09-2009, 03:04 AM   #20
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Originally Posted by marcefer View Post
If "significant income and cost synergies" mean VW door handles or knobs in the GT3, then NO THANK YOU
That is exactly what it means.

It sure as hell won't mean a Passat rebody of the Panamera that's for sure
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Old 12-09-2009, 03:51 AM   #21
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Originally Posted by nthfinity View Post
It means that both the next Cayenne, Boxter, Cayenne, Panamera etc. will be thinly disguised VW products, or visa versa.
Cayenne already is. And it makes perfect sense for VW to base the Continental replacement to be based on the Panamera since it's extremely unlikely that VW will make another Phaeton. Either that or off the D4 platform from the new A8.
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