Breckner (left) and Becker.
STUTTGART: Porsche AG’s supervisory board has chosen company insiders to replace its finance and sales chiefs as the Volkswagen AG luxury brand seeks a strategy reset in the face of plummeting demand in China and electric vehicle apathy in Europe.Jochen Breckner will replace Lutz Meschke as chief financial officer, while Matthias Becker will take over as head of sales from Detlev von Platen, the company said in a statement after markets closed on Tuesday.
Breckner, who started at the company in 2000, previously headed Porsche’s General Secretariat and Corporate Development. Becker joined the carmaker 10 years ago and most recently headed the brand’s overseas and emerging markets efforts.
Porsche SE said in a separate statement that Meschke, who sits on the holding company’s management board, will oversee the expansion of its portfolio of investments.
The Zuffenhausen-based carmaker is facing several existential challenges as its key markets weather economic and political upheaval.
Porsche is struggling in China, the world’s biggest auto market, where luxury spending remains muted and local manufacturers led by BYD Co. are taking over. It’s contending with weaker-than-expected demand for electric vehicles in Europe after several countries reduced subsidies.
Porsche is also vulnerable to the tariff threats US President Donald Trump is lobbing at the European Union.
Porsche is following parent Volkswagen’s lead in trying to whittle down its production costs in Germany, where labour and energy are expensive.
Porsche management and labour representatives recently announced plans to slash 1,900 positions at two German sites via voluntary measures like early retirement and severance packages.
