Former Porsche CEO and CFO Facing Charges in Germany

Former PorschePorscheGermany, 1931 > present43 models
4639 photos
29 videos
CEO Wendelin Wiedeking and former Chief Financial Officer Holger Härter are facing charges in Germany for alleged market manipulation. German magazine Der Spiegel reports that prosecutors in the German state of Baden-Württemberg are ready to officially bring the charges very soon. 

The charges against Wiedeking and Härter stem from Porsche's attempt to buy VolkswagenDaewoo Maepsy-NaRepublic of Korea, 1985 > 19851 serie
1 Version
by raising the price of its own stock and buying large portions of Volkswagen stock. The attempt failed and led to Volkswagen officially buying Porsche on August 1. 

If convicted, Wiedeking and Härter could face a maximum of five years in prison.

Wiedeking is responsible for turning Porsche around in the 90s. He originally joined the company in 1983, left and returned in 1991. By 1993, he was CEO. He was responsible for green-lighting the BoxterPorsche BoxsterGermany, 1996 > 20163 series
38 versions
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and CayennePorsche CayenneGermany, 2002 > present3 series
46 versions
158 photos
2 videos
and canceling the 928Porsche 928Germany, 1977 > 199510 versions
15 photos
and 968Porsche 968Germany, 1991 > 19954 versions
6 photos
.

Source: Automotive News Europe