Head of Controlling Lutz Meschkes Appointed Member of the Board

Lutz Meschke New Executive Vice-President Financial Affairs of Porsche AG Stuttgart

ATLANTA & STUTTGART, Germany -- The Supervisory Board of Dr. Ing. h.c. F. Porsche AG, Stuttgart, today appointed Lutz Meschke (43) a Member of the Executive Board as the new Executive Vice President Financial Affairs, Porsche AG. The appointment takes effect immediately.

Meschke, who was previously the Head of Central Controlling of Porsche AG, will take over the top management post of the Finance and Operations Division as well as Purchasing and Procurement. Meschke's appointment follows the resignation this past summer of Executive Vice-President Financial Affairs, Holger Härter. In the interim, these functions had been run on a provisional basis by the overall Board of Management.

Born in the German town of Hilden in 1966, Meschke studied Business Administration at Cologne University and then continued his training as a Tax Consultant, before, after holding various positions with the KPMG auditing company. He later joined Hugo Boss AG in 1999 as the Head of Group Consolidation. In 2001 he joined Porsche as the Head of Accounting within the Finance Division and was appointed Head of Controlling in 2004. He has played a leading role in Porsche AG's cost reduction program during this period of worldwide economic downturn.

Note: Images of the new Executive Vice-President Financial Affairs of Porsche AG are available to accredited journalists in the Porsche Press Database at https://presse.porsche.de.