Porsche, Volkswagen: Merger now official, Porsche to become 10th Volkswagen brand

Friday, July 24, 2009

Porsche, Volkswagen: Merger now official, Porsche to become 10th Volkswagen brand

Finally the merger between Porsche and Volkswagen is now official. And now, let's move on.

With today's announcement of Wendelin Wiedeking leaving his position as Porsche's CEO to be replaced by Michael Macht still fresh, the supervisory board at Volkswagen is moving to lay the foundation for an integrated company with Porsche under VW leadership.

Already the board has endorsed the creation of the integrated group, and talks are underway to draw up the final plans. According to a statement released by the VW Group today, "The integrated automotive group will be formed from the progressive participation of Volkswagen in Porsche AG and the subsequent merger of Porsche Automobil Holding SE and Volkswagen AG. Porsche will remain an independent company headquartered in Stuttgart."