Macht: Porsche's pragmatic new auto head
With the departure of Porsche CEO Wendelin Wiedeking, Michael Macht is stepping into office.Frankfurt -- Following the resignation on Thursday of flamboyant Porsche Chief Executive Officer Wendelin Wiedeking, the company named his close aide Michael Macht to run its core automaking operations.
Macht, 48, offers the qualities Porsche needs, starting with managerial competence and a thorough knowledge of the company, analysts said.
It was still unclear however who would be the new CEO of Porsche SE, the overall holding group.
Macht began working at Porsche in 1990 and quickly came to Wiedeking's attention. The young engineer was named two years later as head of a group charged with restructuring the ailing automaker.
Sent to Japan to study production methods, in particular at what is now the world's biggest automaker, Toyota, Macht gained so much experience that Porsche created a consulting group in 1994 which press reports say even rivals like Daimler and VW called upon.
Determined to cut Porsche's costs to the bone, Macht was named to the management board in 1998 and put in charge of production and logistics.
His pragmatism, sobriety and discretion also boosted his reputation at VW, with which he cooperated on the production of VW Touareg and Porsche Cayenne sports utility vehicles.
The departure of Wiedeking, who raised hackles at VW with a bold attempt to take over the much bigger company, paves the way for an integrated group, with Porsche's flashy 911 sports car side by side with more affordable VW Golfs and Polos.