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March 12, 2003
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This Week:

• Mercedes-Benz CLK 55 AMG celebrates premiere as new Formula One Safety Car

• GM Is First Automaker Approved To Drive A Liquid Hydrogen Vehicle On Japanese Roads

• BMW GROUP Sales February 2003: Outlook for the year remains positive

• DaimlerChrysler initiates "F-Cell" tests in Japan

• Peter Schwarzenbauer to be new President and CEO of Porsche Cars North America

• Ford Announces 100th Anniversary Celebration Plans

• Team Bentley returns to racing in the USA after 81 years

• Hyundai Motor America and Kia Motors America Outsource Vehicle Logistics Operation

• Toyota Announces Strong February Sales

• GM Service And Parts Operations, ProLogis And Aurora EDC Partnership Results In New Parts Distribution Center In Colorado

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Peter Schwarzenbauer to be new President and CEO of Porsche Cars North America
 

Fred Schwab ceases leadership at Porsche Cars North America Stuttgart/Atlanta - From 1985 onwards he was a top management member of the largest foreign sales company at Dr. Ing. h.c.F. Porsche AG, Stuttgart, taking up the head position in 1992. Now a successful career is drawing to a close: Fred Schwab, President and CEO of Porsche Cars North America (PCNA) seated in Atlanta, Georgia, will cease leadership on the 1st of March 2003. The PCNA Supervisory Board has nominated his successor to be Peter Schwarzenbauer, currently still Managing Director of Porsche Iberica for the Spanish and Portuguese markets. For ten years Fred Schwab was "Mister Porsche" in the USA and Canada. Under his leadership PCNA continually extended its position as the most important sales company at Porsche AG. As the sales figures for 1992/93 only accounted for 3,700 sports cars, the last fiscal year 2001/02 saw this figure rise to more than 23,100 car sales in the USA and Canada. Thus, under his auspices, the North American continent advanced to become the most important sales market for Porsche cars in the world.

Fred Schwab was born on the 28th of March 1939 in Detroit. His vocational career started in 1960 at the Touche Ross and Company (today known as Deloitte & Touche), management consulting company, where he rose to be accepted as a partner in the company. In 1974 he moved to the Fruehauf Corporation, manufacturer of commercial-vehicle trailers. In 1982 he was appointed to Executive Vice President of the company. Three years later Schwab moved on to join PCNA.

Peter Schwarzenbauer was born on the 19th of October 1959 in Bavaria's Weissenburg. His school time was spent in Munich and Brazil. After successfully graduating in business administration at the Munich University of Applied Sciences he moved on to BMW AG in charge of overseas markets in Central Marketing. In 1988 he was appointed Head of Product Events in this area. Then he switched from cars to bikes: from 1990 to 1992 he took up a position as Business Development Manager in the motorcycle division of BMW of North America. Two years later he took over the sales management for Europe at BMW Motorcycles in Munich.

The change to Porsche AG was then undertaken in 1994. Schwarzenbauer was initially Sales Manager for the German market in Sales moving on two years later to take up the Head of Marketing position. In 1997 the company appointed him Managing Director of Porsche Iberica, Madrid. Schwarzenbauer is married and has one son.

(Jan. 09, 2003)