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Wendelin Wiedeking Takes Up Charity

Following the announcement made by the German manufacturer regarding Wendelin Wiedeking's departure, the now former Porsche CEO announced he will engage in several charity actions across Germany.

To that effect, he has donated 500,000 euro to each the social fund of Landespresse Baden-Wurttemberg and the society of the Verein Kollegenhilfe niedersachsischer Journalisten. Furthermore, Wendelin Wiedeking plans to give 25 million euros to the charitable organization to be set up in Stuttgart-Zuffenhausen.

"As a sign of my outstanding relation with longterm members of staff and companions I aim to establish a charitable organization in Stuttgart-Zuffenhausen where the headquarter of Porsche AG is located. With the support of the Porsche union representatives the trust shall be equipped with liquid funds of Euros 25 million and supports/aim at ensuring a socially fair development at all Porsche sites."

"Furthermore I will donate to the social fund of Landespresse Baden-Wurttemberg e.V., the trust of Hamburger Presse and the society of the Verein Kollegenhilfe niedersächsischer Journalisten e.V. a lump sum of euros 500.000 each. According to the goals of the organizations outlined in their respective articles of association the donations should serve as a support for elderly and suffering journalists."

"Over and above this I will invest in projects, targeting at creating jobs in Germany. I do pay my taxes in Germany with roughly half of my income being transferred to the state."

As a result of the agreement between Wendelin Wiedeking and Porsche's board, he will receive a 50 million euro severance package. The former CEO already has two charitable trusts set up in Beckum/Westfalia and Bietigheim-Bissingen.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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