Porsche Announces New Chief Financial Officer for U.S.

Brings Wealth of Experience with Porsche

ATLANTA, Aug. 10 -- Porsche announced that Thierry Kartochian will become Executive Vice President and Chief Financial Officer of Porsche Cars North America, Inc. (PCNA), headquartered in Atlanta.

Kartochian comes to PCNA from Porsche Business Services (PBS) and Porsche Financial Services (PFS) in Chicago where he is concurrently Executive Vice President and Chief Financial Officer of the respective organizations. His responsibilities at these positions, which started in October of 2008, include executive management of PBS, which provides shared services for PCNA and other Porsche entities in North America. As CFO of PFS, he is responsible for varied financial services for Porsche's North American operations, including both the U.S. and Canadian markets. Kartochian further serves as Executive Vice President for Porsche Enterprises, Incorporated, the holding company for Porsche in North America that is also located in Chicago.

Prior to accepting this new position at PCNA, Kartochian built 19 years of industry experience within the Porsche Group, including a nine year stint as CFO and HR Director of Porsche France Group where he was responsible for all finance, IT, legal and HR activities.

He began his career at Porsche AG in Stuttgart, Germany, in 1991 as a controlling analyst.

As CFO at PCNA, Kartochian will replace Frank Hoffmann who is pursuing other opportunities outside the company.

Kartochian (43) will move from Chicago to Atlanta with his family that includes his wife and two children. Kartochian holds a MBA from E.S.S.E.C. Business School in Paris.

About Porsche Cars North America, Inc.

Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., is the exclusive importer of Porsche vehicles for the United States. It is a wholly owned, indirect subsidiary of Dr. Ing.h.c. F. Porsche AG. PCNA employs 213 people who provide Porsche vehicles, parts, service, marketing and training for its 199 dealers. The dealers, in turn, provide Porsche owners with best-in-class service. Throughout its 61-year history, Porsche has developed numerous technologies that have advanced vehicle performance, improved safety and spurred environmental innovations within the automotive industry. The company continues to celebrate its heritage by adding to its long list of motorsports victories dating back to its first 24 Hours of Le Mans class win in 1951. Today, with more than 28,000 victories, Porsche is recognized as the world's most successful brand in sports car racing. PCNA, which imports the iconic 911 series, the highly acclaimed Boxster and Cayman mid-engine sports cars, high-end Cayenne sport utility vehicles and the four-passenger Panamera Gran Turismos, strives to maintain a standard of excellence, commitment and distinction synonymous with its brand.

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