Management Changes at Porsche AG

Porsche AG has announced changes to its management team, effective July 1st. The company has appointed Vera Schalwig as the new Board Member for Human Resources and Social Affairs, replacing Andreas Haffner. Joachim Scharnagl will take over the procurement department from Barbara Frenkel.

Key Appointments

• Vera Schalwig: New Board Member for Human Resources and Social Affairs
• Joachim Scharnagl: New Head of Procurement Department

Leadership Structure

Michael Steiner, the current Research and Development Board Member, will become the Vice-Chairman of Porsche AG, effective July 1st.

Market Performance

The company’s stock price has been influenced by broader market trends. The DAX index reached a record high due to easing tensions in the US-China trade war. However, the gains have since moderated.

Timeline

• July 1st: Effective date for management changes
• Ongoing: Company’s efforts to modernize its leadership structure