Porsche Cars North America Announces Retirement of Richard Ford

ATLANTA, Dec. 6, 2004 -- Porsche Cars North America (PCNA) today announced the retirement of its Executive Vice President and Chief Operating Officer, Richard Ford, effective December 31, 2004.

Ford, a 20-year veteran of PCNA, is a well-known, highly-respected figure in the automotive industry. His career spanned nearly 40 years at both manufacturers and retailers including Ford, Toyota, and Porsche.

"His retirement may be a great thing for Rich, but it certainly will be a loss for Porsche and the people at PCNA," said Peter Schwarzenbauer, President and Chief Executive Officer of Porsche Cars North America. "Rich knows the luxury car business as well as anyone in the industry, and we will miss his expertise and counsel."

Ford's contribution to the success of Porsche in North America has been extensive. His most significant achievements include the establishment of the first dealer network for Porsche Cars, the development and implementation of PCNA's initial operating standards, and the creation of PCNA's original dealer sales and service agreements. Ford's input led to the founding of PCNA's first dealer council and the eventual establishment of the Porsche Dealer Board of Regents. His strong dealer rapport proved vital as PCNA's vehicle allocation process was developed and refined.

As PCNA's dealer relations were consistently recognized as among the very best in the industry, Ford and his team integrated the Canadian market into the North American dealer network, and continued to set records for vehicle sales in North America including PCNA's all-time record sales in FY '04.

Ford began his career with Ford Motor Company. During his 12 years at Ford, he held a variety of sales and marketing positions. He was the National Dealer Franchise Coordinator when he left Ford to join Toyota Motor Sales USA in 1980 as the National Dealer Development Manager.

Ford joined PCNA in 1984 as the sales manager for the western United States. In 1987, he was promoted to General Manager, Dealer Operations, and later assumed additional responsibilities as the General Manager for Vehicles and Operations. In 1988, he was promoted to Vice President, Sales and Operations. By 1995, Ford was the Senior Vice President responsible for Vehicle Sales, After Sales, Operational Activities, and Marketing. In 1997, he was named Executive Vice President and Chief Operating Officer.

Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., and its subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers of Porsche sports cars and Cayenne sport utility vehicles for the United States and Canada. A wholly-owned, indirect subsidiary of Dr. Ing. h.c. F. Porsche AG, PCNA employs approximately 250 people who provide Porsche vehicles, parts, service, marketing and training for its 203 U.S. and Canadian dealers. They, in turn, provide Porsche owners with best-in-class service.