Porsche Financial Services CFO Konrad Riedl is retiring after a 36-year tenure, with board spokesperson Volker Reichhardt stepping in as finance chief. Michael Glinski was also appointed chief commercial officer and board member. The changes come as parent Porsche AG launches its Strategy 2035 plan to boost sustainable profitability through structural streamlining and product-line reductions. The automaker recently discontinued two Taycan variants in the U.S. and plans to close three subsidiaries and cut about 500 jobs.
Porsche AGPorsche AG's Strategy 2035 involves structural streamlining, product-line reductions, and job cuts, indicating cost pressures and restructuring.
Porsche Automobil Holding SE