There has been a change in the management of Porsche Financial Services GmbH (PFS), with Volker Reichhardt taking over the position of spokesman for the management on September 1, 2022.
Reichhardt was most recently CFO and Treasurer of Porsche Financial Services Inc. The 100% subsidiary of Porsche AG manages the PFS business in the USA. He was also General Director of Volkswagen Financial Services Russia from 2016 to 2020 and CFO of MAN Finance International GmbH from 2014 to 2016.
“Volker Reichhardt is an experienced financial expert who has held managerial positions in the Volkswagen Group over the past nine years,” says Lutz Meschke, Deputy Chairman of the Board of Management and Board Member for Finance and IT at Porsche AG. “Porsche Financial Services GmbH will continue to expand with the assumption of responsibility for Porsche Drive. We are therefore very pleased that we have been able to gain a proven industry expert to continue our planned growth course.”
Reichhardt takes over as spokesman for the four-person management of Porsche Financial Services GmbH. In addition to Reichhardt, the Management Board also includes Konrad Riedl (CFO), Marc Rieß (COO) and Michael Löffler. In addition to his function as head of sales management and strategy at Porsche AG, Michael Löffler joined the executive board as Chief Marketing Officer on January 1, 2022. “With Michael Löffler, we have gained a leading sales expert for the management board,” Meschke continued. “This allows us to network even more intensively with the sales department of Porsche AG and further deepen the synergies between the parent company and the subsidiary.”
Porsche Financial Services is on course for growth
The Porsche Financial Services GmbH based in Bietigheim-Bissingen is a 100 percent subsidiary of the Stuttgart sports car manufacturer Porsche AG. The range of services offered by the Porsche Financial Services Group includes tailor-made financing solutions for Porsche vehicles and the Volkswagen exclusive brands Bentley, Lamborghini and Bugatti as well as dealer financing, insurance, mobility services and credit cards.
The company operates internationally with more than 400 employees and manages more than 320,000 leasing and financing contracts worldwide. The total number of contracts has almost doubled in the last four years. In Germany, the leasing business is operated by Porsche Financial Services GmbH & Co. KG, a financial services institute.
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