Porsche To Hire Former Mercedes Executive Amidst Potential IPO Plans

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 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 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