Finance
Porsche names new CFO and sales chief in bid to revive performance
Published by Global Banking & Finance Review®
Posted on February 26, 2025
2 min readLast updated: January 25, 2026
Quick Summary
Porsche appoints new CFO and sales chief to address performance issues and weak share price, focusing on EV sales and China market challenges.
Porsche Appoints New CFO and Sales Chief to Boost Performance
FRANKFURT (Reuters) - Luxury carmaker Porsche replaced its CFO and head of sales on Wednesday with two company veterans as it reshuffles its board in the hopes of reviving flagging performance and a weak share price.
The company announced late on Tuesday that Jochen Breckner, at Porsche for 25 years and head of corporate development since 2018, will oversee finances and IT. Matthias Becker, formerly at Audi and Skoda and head of overseas markets for Porsche since 2015, will lead sales and marketing.
Their predecessors are leaving by mutual agreement, the carmaker said.
Porsche's board started talks to end finance chief Lutz Meschke's and sales executive Detlev von Platen's contracts in early February, after both came under heavy criticism for the company's poor performance and weak share price.
The carmaker, which at its stock market debut in 2022 was valued higher than its parent company Volkswagen AG, has fallen from grace since then, struggling to get EV sales off the ground and suffering from weak demand in China, its top market.
Its shares dropped to their lowest value since listing on the stock market earlier this month after the carmaker warned the cost of new models and battery-related expenses would dent its 2025 margins to just 10-12% this year, below analysts' expectations.
Meschke will remain on the board of Porsche SE, an investment firm controlled by the Piech and Porsche families which owns 12.5% of Porsche and is also Volkswagen's top shareholder.
(Reporting by Tom Sims, Victoria Waldersee; Editing by Alexandra Hudson and Louise Heavens)
Key Takeaways
- •Porsche appoints Jochen Breckner as new CFO.
- •Matthias Becker becomes head of sales and marketing.
- •Board reshuffle aims to revive Porsche's performance.
- •Porsche faces challenges with EV sales and China market.
- •Share price affected by new model costs and battery expenses.
Frequently Asked Questions about Porsche names new CFO and sales chief in bid to revive performance
1Who are the new executives appointed by Porsche?
Porsche appointed Jochen Breckner as the new CFO and Matthias Becker as the head of sales.
2Why did Porsche replace its CFO and sales chief?
The replacements were made in response to heavy criticism of the company's poor performance and to revive its flagging performance.
3What challenges is Porsche facing in the market?
Porsche is struggling to get electric vehicle sales off the ground and has warned that costs related to new models and battery expenses will impact its margins.
4What will happen to the previous executives?
Lutz Meschke and Detlev von Platen will leave by mutual agreement, although Meschke will remain on the board of Porsche SE.
5How has Porsche's stock performed recently?
Porsche's shares dropped to their lowest value since its stock market debut earlier this month, following warnings about future costs.
