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Porsche CEO awarded honorary doctorateLeipzig Graduate School of Management honors Dr. Wendelin Wiedeking

Stuttgart. Dr. Wendelin Wiedeking, Chief Executive Officer at Dr. Ing. h.c. F. Porsche AG, Stuttgart, was been awarded an honorary doctorate from Leipzig Graduate School of Management. The institute, one of the leading European business schools, honored the engineer who holds his own doctorate for his exemplary management at Porsche AG and his commitment to Leipzig as an economic centre.

In the nineties, Wiedeking successfully lead the company he managed out of the crisis, making it the most profitable automobile manufacturer in the world. Furthermore, the laudation stated that the decision he had taken to manufacture the sporty Cayenne off-road vehicle in a new plant in Leipzig since 2002 had made a material contribution to the economic revival of the region. In the ceremony, which took place yesterday evening in the Leipzig Museum of Fine Arts, alongside Wiedeking, Prof. Dr. A. Michael Spence, Nobel Prize Winner for Economics in 2001, was also awarded an honorary doctorate.

In his acceptance speech, Wiedeking said: "To build the plant for the Cayenne in Leipzig was one of the best decisions ever made at Porsche. From the very first day, we felt good in this city." He then pointed out that there was a team performance behind the success story at Porsche. Wiedeking continued: "I accept this distinction in the name of all the employees. For all of them are working together and doing a great job."

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4/14/2005