Car manufacturer: Porsche presents two new board members

The luxury car manufacturer Porsche is restructuring its board of directors. More than three weeks after the Stuttgart-based company announced the departure of long-time vice-president and CFO Lutz Meschke and sales director Detlev von Platen, they are presenting their successors: Jochen Breckner will take over responsibility for finance and IT as Meschke's successor. Matthias Becker will become head of sales and marketing.

Both new board members are considered confidants of CEO Oliver Blume. "With Jochen Breckner and Matthias Becker, the board team is gaining two experienced professionals who have lived and breathed Porsche for many years and bring with them a wealth of experience," Blume is quoted as saying in the company's press release. "Both colleagues have the qualities to develop our company in a future-oriented manner from day one."

Both have been with Porsche for many years. Jochen Breckner for 25 years - first as an intern and graduate student, later as a doctoral student. From 2010 to 2012 he headed controlling for the sales, marketing and financial services departments. From 2012 onwards, Breckner then reported directly to the board of directors as head of product controlling and later as head of controlling. Since September 2018, Breckner has headed Porsche's general secretariat and corporate development. For example, he managed the IPO two years ago and the long-term efficiency program with which the sports car manufacturer wants to optimize its financial resilience.

The new Board Member for Sales, Matthias Becker, has been with Porsche since 2015. As Head of the Overseas and Growth Markets Region, he has developed sales regions such as Southeast Asia, Australia, the Middle East, Africa and Central and South America with more than 70 markets. Becker previously held several management positions at the parent company Volkswagen. At Audi, he held senior sales positions in Europe and China, and he also worked at Škoda and in marketing at VW in Germany.

Chairman of the Supervisory Board Wolfgang Porsche expressed his thanks to the departing managers: "We would like to thank Lutz Meschke for his great commitment and his many years of successful work for Porsche AG. I would also like to thank Detlev von Platen on behalf of the Supervisory Board." His many years of strong commitment have left their mark on Porsche. Porsche Vice-CEO Meschke was said to have ambitions to replace Oliver Blume, who is also CEO of the VW Group, as CEO. The collapse in business in China and the weak share price are also said to have led to criticism of the managers.

Lutz Meschke is allowed to keep his position on the board of the holding company Porsche SE. The Porsche and Piëch families control the extensive VW galaxies through the holding company. Meschke is responsible for investment management there, and the most important investment is Volkswagen. Meschke was supposed to control the business of his boss, Oliver Blume. He is said to have become too unpleasant in this role recently. At least this conflict of interest has now been resolved following his departure from Porsche AG.