Porsche Automobil Holding names Wolfgang Porsche chairman

[azasadny]

FRANKFURT, Germany -- Porsche has named Wolfgang Porsche as chairman of the newly-formed Porsche Automobil Holding SE supervisory board, with Uwe Hueck his deputy, the automaker said today.

Wolfgang Porsche is an owning partner of the Stuttgart-based company and chairman of Porsche AG' supervisory board.

The board also named Porsche CEO Wendelin Wiedeking to the same position with the holding company. Porsche AG's Chief Financial Officer Holger P. Haerter was named deputy chairman of the board.

The holding company was established earlier this year after Porsche moved to acquire a dominant stake in Volkswagen AG, in part to protect it from a foreign or hostile takeover.

The holding company has made Porsche AG a wholly owned subsidiary of the new company, which will also oversee the stake in Volkswagen