“For Porsche, economic success and social responsibility are inextricably linked”, says Oliver Blume, Chairman of the Executive Board of Porsche AG. This is clearly evidenced in the brand’s push towards hybridization and electrification in its product line. Porsche’s latest effort, the Ferry Porsche Foundation, is intended to support projects in connection with education and social issues. The foundation will primarily focus on projects in and around the company’s plants in Stuttgart, Weissach and Leipzig, and will play an active role in youth development.
The foundation supports projects relating to science, research and education, as well as training and development, promoting cultural and environmental initiatives and assisting young people affected by social hardship. As the foundation grows its reach will expand to projects around the world. In addition to providing support to other projects, the foundation seeks to establish and expand on initiatives from within the foundation.
Long Term Stability
“Through the Ferry Porsche Foundation, we aim to strengthen our existing social and civic activities in a sustainable way, independent of our day-to-day commercial operations,” says Mr. Blume. Porsche will provide funds to the foundation annually from the company’s profits. In previous years the company has invested up to five million Euro annually in civil, cultural and social institutions. The new foundation is receiving an initial investment of ten million Euro, with an additional ten million to come later on.
Porsche’s growth and social initiatives are indicative of the company’s approach to social integration. “Foundations have a particular importance at times of great change: They are as solid as a rock in turbulent waters, the constant factor. They call for thoughts and actions which encompass longer periods”, says Wolfgang Reimer, President of the Administrative District of Stuttgart. The foundation’s far reaching nature is intended to be a stabilizing factor for the initiatives it supports.
The Board of Trustees and Executive Board
The Foundation will be overseen by a Board of Trustees, primarily drawn from within Porsche. The trustees will provide guidance in the selection of projects and oversight to ensure correct use of foundation funds. Dr Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG and son of Ferry Porsche, is the Honorary Chairman of the Board. Oliver Blume is the Chairman. Other board members include Uwe Hück, Andreas Haffner and Lutz Meschke.
The operational side of the foundation will be handled by a separate Executive Board. Dr. Josef Arweck, Vice President of Porsche Communications, will chair the Executive Board. The Vice Chairs are Kai Bliesener and Dr. Carment Self, respectively the Secretary General of the Porsche AG General Works Council and Vice President of Accounting and Taxation at Porsche AG.