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April 10, 2012

Ferdinand Alexander Porsche, the grandson of the eponymous family business's founder and the designer of the iconic Porsche 911, died on 5 April in Salzburg, Austria aged 76.

Ferdinand Alexander Porsche, the grandson of the eponymous family business's founder and the designer of the iconic Porsche 911, died on 5 April in Salzburg, Austria aged 76.

He was the honorary president of the German car manufacturer’s supervisory board.

Born in 1935, Ferdinand was the oldest son of Dorothea and Ferry Porsche, and the grandson of Ferdinand Porsche Sr, who established the automaker in 1931.

March 13, 2012

Germany’s Volkswagen needs to ensure there is enough external influence to steer the family business through tough times, following a move by the Piech family to rein in control of the carmaker.

Germany’s Volkswagen needs to ensure there is enough external influence to steer the family business through tough times, following a move by the Piech family to rein in control of the carmaker.

That’s according to Albrecht Enders, professor of strategy and innovation at Swiss-based business school IMD, who was commenting after Volkswagen proposed Ursula Piech, wife of chairman Ferdinand Piech, join the automaker's board.

September 9, 2011

The management team at Volkswagen are “urgently” examining “potential courses of action” to ensure that the planned merger of the German carmaker with Porsche can go ahead, according to a spokesman for VW.   

The management team at Volkswagen are “urgently” examining “potential courses of action” to ensure that the planned merger of the German carmaker with Porsche can go ahead, according to a spokesman for VW.

VW said this week that efforts to merge the two family-controlled companies are being hampered by legal issues relating to Porsche's failed attempt to take over Volkswagen in 2008, which saw Porsche accumulate a debt of €10 billion.

August 2, 2011

BMW and Porsche, two of Europe’s most recognisable family-controlled luxury car manufacturers, have reported strong profits for the first six months of the year, following difficult trading in 2010. 

BMW and Porsche, two of Europe’s most recognisable family-controlled luxury car manufacturers, have reported strong profits for the first six months of the year, following difficult trading in 2010.

Porsche, which is majority owned by the Porsche and Piech families, saw pre-tax profits of €149 million for the first half of 2011, compared to a loss of €1.62 billion in the same period last year.

February 24, 2011

Family-controlled German carmakers, Porsche and Volkswagen, announced on 23 February that their planned merger may not happen this year due to pending legal issues.

Family-controlled German carmakers, Porsche and Volkswagen, announced on 23 February that their planned merger may not happen this year due to pending legal issues.

The two carmakers had previously revealed plans to merge by the second half of this year, but unresolved legal issues relating to a failed takeover of VW by Porsche in 2008 are likely to delay the merger.

January 13, 2011

Turin and Wolfsburg might not have much in common at first glance, writes David Bain.

Turin and Wolfsburg might not have much in common at first glance, writes David Bain.
 
For one thing, Wolfsburg is in Germany and has a population of just over 100,000, whereas Turin is in Italy with nearly one million inhabitants. It's probably also fair to say that the temperament of each other's citizens might have little in common.  
 
But there is one thing that unites both of these towns – car making.
 

January 4, 2011

A $2 billion-plus lawsuit filed against family-controlled automobile giant Porsche was dismissed by a US federal judge on 30 December 2010.

A $2 billion-plus lawsuit filed against family-controlled automobile giant Porsche was dismissed by a US federal judge on 30 December 2010.

Porsche was being sued by 39 hedge funds for lying over its intentions towards Volkswagen. Specifically, they claimed Porsche disguised its intentions to takeover VW at the end of 2008.

December 1, 2010

Porsche SE shareholders voted in favour of a €5 billion rights issue on 30 November that is designed to reduce the niche sports carmaker’s debt ahead of its merger with Volkswagen next year.

Porsche SE shareholders voted in favour of a €5 billion rights issue on 30 November that is designed to reduce the niche sports carmaker's debt ahead of its merger with Volkswagen next year.

Nearly 90% of the company's common shareholders voted in favour of the rights issue, which Porsche hopes will be completed by May 2011.

November 30, 2010

Porsche Automobile Holding SE, the family-controlled parent company of the carmaker Porsche, announced 29 November that it has returned to profit for the first three months of its fiscal year.

Porsche Automobile Holding SE, the family-controlled parent company of the carmaker Porsche, announced 29 November that it has returned to profit for the first three months of its fiscal year.

In a statement, Porsche said it has generated a net profit of €155 million for the three months from 1 August 2010, compared with a loss of €413 million for the same period in 2009. 

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