The FINANCIAL -- In their meeting on November 6 the Supervisory Board of Dr. Ing. h.c. F. Porsche AG, Stuttgart, appointed Lutz Meschke (43) a Member of the Executive Board of the manufacturer of sporting premium cars.

With immediate effect, Meschke, previously the Head of Central Controlling of Porsche AG, is taking over top management of the Finance and Operations Division as well as Purchasing and Procurement. Following the resignation of the former Executive Vice-President Financial Affairs Holger Härter on 23 July 2009, this Division had been run in the meantime on a provisional basis by the overall Board of Management.

Born in the German town of Hilden in 1966, Meschke studied Business Administration at Cologne University and then continued his training as a Tax Consultant, before, after holding various positions with the KPMG auditing company, joined Hugo Boss AG in 1999 as the Head of Group Consolidation. In 2001 he joined Porsche as the Head of Accounting within the Finance Division and was appointed Head of Controlling in 2004. In this function he played a leading role in the cost reduction programme of Porsche AG initiated in 2008 to prepare the Company for the ongoing financial and economic crisis.