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Porsche Names New President and CEO of Porsche Cars North America

STUTTGART, Germany & ATLANTA--Today, the board of management of Porsche AG in Stuttgart, Germany, announced the appointment of Detlev von Platen (44) as President and CEO of Porsche Cars North America (PCNA), effective April 1, 2008. Von Platen will succeed Peter Schwarzenbauer who has been named to the management board of AUDI AG, in Ingolstadt, Germany, responsible for worldwide sales and marketing.

For the past nine years, Detlev von Platen has been President and CEO of Porsche France. Under his leadership Porsche France became one of Porsche’s major sales subsidiaries in continental Europe with total sales of close to 3,000 sports cars and Cayenne SUVs in 2007. Before joining Porsche in 1996, von Platen held a number of management functions within the sales and marketing department of BMW Motorrad GmbH in Munich, Germany.

In Atlanta, von Platen will be heading Porsche’s most important sales subsidiary. With total 2007 sales of 36,680 units in the United States and Canada, North America accounts for nearly 40 percent of Porsche’s worldwide sales volume. Under Schwarzenbauer, PCNA posted four consecutive sales records in an extremely challenging market place. In fact, since the arrival of the Cayenne model line in 2003 Porsche increased its volume in North America by 68 percent. But despite an increasingly incentive driven sales environment, even in the premium segment Porsche never lost focus on generating value for the company, its dealers and its customers instead of striving for mere growth and market share through subsidizing sales.

Schwarzenbauer leaves his successor with an enthusiastic and able organization and a healthy, passionate dealer body. Over the past two years, he spearheaded a comprehensive restructuring of PCNA’s field organization and sales regions in order to prepare the company for next year’s arrival of Porsche’s fourth model line, the four-door Gran Turismo Panamera.

Beginning April 1, 2008, PCNA’s market responsibilities will focus solely on the United States. Only last week, Porsche announced the foundation of Porsche Cars Canada, a new, independent sales subsidiary for the Canadian market that will report directly to its Porsche AG parent. Christian Marti was appointed President and CEO of the new entity.

Porsche Cars North America, Inc. (PCNA), based in Atlanta, GA, and, Porsche Cars Canada, Ltd. (PCL) in Mississauga, Ontario, are the two importers of Porsche sports cars and Cayenne sport utility vehicles for the United States and Canada respectively. They are wholly owned, indirect subsidiaries of Dr. Ing.h.c. F. Porsche AG. Combined, PCNA and PCL employ approximately 260 people who provide Porsche vehicles, parts, service, marketing and training for its 200 U.S. and 12 Canadian dealers. They, in turn, provide Porsche owners with best-in-class service.