<P> In its process to acquire a majority holding in Volkswagen AG, Porsche SE built up a large debt burden, aggravated by taxes due on very large paper profits on Volkswagen AG options . By July 2009, Porsche SE was faced with debts exceeding 10 billion euros . The supervisory board of Porsche SE finally agreed to a number of arrangements whereby the Qatar Investment Authority would inject a large amount of capital into Porsche SE, and Porsche automobile manufacturing business would be merged with Volkswagen Group . On 23 July 2009, Michael Macht was appointed CEO of Porsche AG, to replace Wendelin Wiedeking, who was expected to receive a compensation package of 50 million euros . </P> <P> In July 2010, Porsche AG appointed Volkswagen executive Matthias Müller to its new CEO position, moving Michael Macht to another executive position within Volkswagen AG . </P> <P> In July 2012, it was announced that Volkswagen AG was taking over the Porsche AG automotive company completely, which bears the same name, but is only a subsidiary of Porsche SE . In June 2013, Qatar Holdings, through the Qatar Investment Authority, sold its 10% holding in Porsche SE back to the founding family, giving them 100% voting rights in the holding company . Porsche SE currently owns 50.73% of the voting rights in Volkswagen AG as the largest (controlling) shareholder . </P>

German holding company with investments in the automotive industry