Automakers

Wiedeking embodies Porsche's VW influence

"Believe me, I know how to make money, and I will insist that we make money at VW. This means there must be a lot of changes within the VW organization," Porsche CEO Wendelin Wiedeking said.
JS
By:
Jason Stein
January 29, 2007 05:00 AM
Wiedeking's views

  • On a German law that prevents any shareholder but the state from exercising more than 20 percent of the voting rights:
"The law will go away within this year. I believe it. It is against European rules. It will fall."
  • On Porsche's being the largest shareholder in VW, surpassing the German state of Lower Saxony:
"For the first time in VW's history, they have a real shareholder. Not a (political) party. Now a shareholder who will ask for money, ask for dividends and check on what is going on."
  • On the potential for VW profits in the future:
"I believe VW really is a gold mine. The only thing is that you have to dig day and night."

DETROIT -- If there was any doubt who will control Volkswagen's future, the picture became much clearer Jan. 9 in a secluded conference room inside Detroit's Cobo Center.

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