End of the road for top Porsche bosses
China Daily | Updated: 2009-07-24 08:04
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Wendelin Wiedeking, CEO of Porsche AG, poses in a 911 Turbo Cabriolet in this file photo. Bloomberg News |
STUTTGART: Sportscar maker Porsche conceded a months-long power struggle to mass-market rival Volkswagen by axing its chief executive and said it would raise at least 5 billion euros in equity as the two prepared for a merger.
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