Porsche cuts executive board and removes Car IT role
Updated
Updated · Reuters · May 7
Porsche cuts executive board and removes Car IT role
8 articles · Updated · Reuters · May 7
From 1 July, the German carmaker will reduce its board to seven from eight, with Sajjad Khan leaving the board and Car IT folded into research and development.
The move is part of a strategic realignment under new CEO Michael Leiters, while deputy board chairman Michael Steiner keeps charge of the expanded R&D division.
Porsche and majority owner Volkswagen are under pressure to cut costs as weak China sales, tariff costs and problems in the electric-vehicle transition weigh on profitability.
As Porsche cuts tech divisions, can it still compete with software-first rivals from China and the US?
Is Porsche sacrificing its electric future to save its iconic combustion engine heritage?