Porsche To Hire Former Mercedes Executive Amidst Potential IPO Plans

Author: Shivani Kumaresan | September 02, 2022 07:09am

• Volkswagen AG (OTC: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 (OTC: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 Read: Porsche 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 (OTC: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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