Porsche To Hire Former Mercedes Executive Amidst Potential IPO Plans

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  • Volkswagen AG VWAGY owned sports car maker Porsche AG is planning to name Sajjad Khan to its executive board.
  • Volkswagen noted Khan would focus primarily on Car-IT and become the eighth member of the body.
  • Khan, a native of Pakistan with German citizenship, could additionally support the Volkswagen Group in an advisory role.
  • Khan worked for Mercedes Benz Group AG DMLRY for more than six years until August 2021. As Chief Technology Officer, he was responsible for development in Connectivity, Autonomous, Shared & Services, and Electric (CASE). 
  • Also ReadPorsche IPO Commands Valuation Of Up To $85B Amid Global Headwinds: Report
  • It has not yet been decided exactly when the company will make a final decision concerning the appointment and when Khan could ultimately start at Porsche.
  • From 2011 to 2015, Khan was with Bayerische Motoren Werke AG BMWYY, leading worldwide Connected Drive efforts as Vice President.
  • Bloomberg reported that Porsche had garnered investors' interest with its plans for an initial public offering, considered one of Europe's biggest listings.
  • Price Action: VWAGY shares closed lower by 1.51% at $18.23 on Thursday.
  • Photo Via Company
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