Matthias Mueller New Chairman of the Porsche AG Board of Management

STUTTGART, Germany and ATLANTA, July 6 /PRNewswire/ -- Taking effect on October 1, 2010, the Supervisory Board of Dr. Ing. h.c. F. Porsche AG, Stuttgart, has appointed Matthias Mueller (57) the new Chairman of the Board of Management of the world-famous manufacturer of premium sporting cars. Mueller, moving from Volkswagen AG, Wolfsburg, to the Top Management of Porsche AG, is following in the footsteps of Michael Macht (49) appointed a Member of the Group Board Management of Volkswagen AG by the Supervisory Board. In future Macht will be responsible for the Production Division and, as a result, the control and coordination of all plants within the Volkswagen Group.

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Previously in charge of Product Planning, Product Management and Model Series for the VW Group and the Volkswagen Brand, Matthias Mueller has successfully promoted the development of Product Lines in the last three years within the VW Group. "Matthias Mueller gives us the exceptional competence of an outstanding product expert benefiting the interaction of independent brands within an Integrated Automotive Group leading the market worldwide. Contributing this knowledge, he guarantees that Porsche, as a world brand, will not only maintain, but further expand its top position," states Dr. Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG, on the appointment of Mueller, who hails from the town of Chemnitz in Eastern Germany.

Dr. Porsche also expresses great praise for the outstanding services of the former Chairman of the Board of Management: "Michael Macht took over the leadership of Porsche AG in a period crucial to the Company. Through his skill and many years of experience within the Porsche Group, he has succeeded in re-stabilising the Company within a short time, placing our operations on a strong and solid foundation. Concluding the Fundamental Agreement between Porsche Automobil Holding SE and Volkswagen AG, Michael Macht has played a significant role in setting out the ongoing schedule for our fully Integrated Automotive Group."

The Chairman of Porsche AG's Group Works Council, Uwe Hueck, also congratulated the former Chairman of the Board of Management: "I wish Michael Macht all the very best and lots of success in his new position on Volkswagen's Group Board. I know that in future the people at Porsche will remain close to him and that he will continue to work all-out to use the full capacity of our plants in Zuffenhausen and Leipzig to the benefit of the Company.

Hueck also bid a warm welcome to the new Chairman of the Board of Management of Porsche AG: "From numerous talks with Matthias Mueller I know that he will maintain Porsche's unique and independent position also in future. Precisely this makes him the right man for us representatives of the workforce, which is why we give him our full support. We already see him today as a genuine "Porsche man" enabling us to really push down the throttle at all our plants. I am confident that the workforce will work well and successfully with Matthias Mueller to the benefit of the Porsche Company as a whole."

About Porsche Cars North America, Inc.

Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., is the exclusive importer of Porsche vehicles for the United States. It is a wholly owned, indirect subsidiary of Dr. Ing. h.c. F. Porsche AG. PCNA employs approximately 180 people who provide Porsche vehicles, parts, service, marketing and training for its 199 dealers. The dealers, in turn, provide Porsche owners with best-in-class service. Throughout its 61-year history, Porsche has developed numerous technologies that have advanced vehicle performance, improved safety and spurred environmental innovations within the automotive industry. The company continues to celebrate its heritage by adding to its long list of motorsports victories dating back to its first 24 Hours of Le Mans class win in 1951. Today, with more than 28,000 victories, Porsche is recognized as the world's most successful brand in sports car racing. PCNA, which imports the iconic 911 series, the highly acclaimed Boxster and Cayman mid-engine sports cars, high-end Cayenne sport utility vehicles and the four-passenger Panamera Gran Turismos, strives to maintain a standard of excellence, commitment and distinction synonymous with its brand.

SOURCE Porsche Cars North America, Inc.