Changes at Porsche in the USA and France – Peter Schwarzenbauer Joins Audi Management Board.

Porsche continues to make changes to their executive team in an effort to continue record growth in their two most important markets.

See the full press release below.

Detlev von Platen becomes new President and CEO of Porsche Cars North America

Stuttgart/Atlanta/Paris. Dr. Ing. h.c. F. Porsche AG, Stuttgart, Germany, names two new executive managers in its two most important markets. With the departure of Peter Schwarzenbauer (48) who has been named to the Management Board of Audi AG, in Ingolstadt, Germany, responsible for worldwide sales and marketing, the Executive Board of the Stuttgart-based sports car manufacturer has named Detlev von Platen (44) as the new President and CEO of Porsche Cars North America, based in Atlanta, Georgia. The new Managing Director of Porsche France in Boulogne Billancourt will be Felix Bräutigam (40).

Detlev von Platen will take over the job in the USA from Peter Schwarzenbauer on April 1, 2008. Since 1997, the political and business economist born in France has been responsible for the Porsche brand and the development of the Porsche France sales subsidiary, established in 1999. Sales on the French market more than tripled under the management of von Platen, reaching 2,916 vehicles in 2007. The dealer network is now made up of 32 Porsche Centers, including subsidiaries in the future markets of Morocco and Tunisia. Before taking on his current position von Platen held various management positions in sales and marketing for BMW AG between 1988 and 1996.

In Atlanta von Platen will be responsible for a successful team of approximately 250 employees. Since taking on this job in March 2003, Peter Schwarzenbauer has further improved the high profile of Porsche in the USA through the consistent marketing of the brand as a premium supplier. He has ultimately been able to achieve record sales four times in a row on the largest Porsche market. In spite of a very difficult market environment plagued by cutthroat price wars between other manufacturers, the 212 dealer operations in North America were able to sell 36,680 vehicles throughout 2007. This represents approximately 38 percent of total global Porsche sales. Thanks to a pre-owned car program established in 2004, the North American Porsche dealers now sell 8,000 pre-owned Porsche vehicles with a works warranty.

Schwarzenbauer has been with Porsche AG since 1994. After occupying management positions in the German market, he took on the job of Managing Director of Porsche Ibérica in Madrid in 1997. Schwarzenbauer will begin his job at the Management Board of Audi AG responsible for worldwide sales and marketing on April 1, 2008.

Felix Bräutigam is to become the new Managing Director of Porsche France. Since 2004, the business graduate and MBA has been responsible for the supervision of all Porsche sales subsidiaries and regional offices at the sales center in Ludwigsburg. Bräutigam, who came to Porsche in 1996 after studying in Germany and the USA, was previously employed as General Manager Marketing Communication.

Porsche expects its next big growth spurt in 2009, linked with the market launch of the four-door Gran Turismo Panamera. With Detlev von Platen and Felix Bräutigam, Porsche now has two experienced Porsche Managers at the helm of the sales subsidiaries in the USA and France ready to take on this challenge.