PORSCHE
Porsche est un constructeur automobile allemand fondé en 1931 par Ferry Porsche, fils de Ferdinand Porsche, l'ingénieur qui créa la première Volkswagen. La société a son siège social à Zuffenhausen, un quartier de Stuttgart. Porsche est actuellement la dixième marque du groupe Volkswagen. Le logo de Porsche est inspiré du blason de Stuttgart, brochant sur celui de l'État libre populaire de Wurtemberg.
Le groupe Porsche dont le siège social est situé à Stuttgart est le constructeur automobile ainsi que le groupe d'entreprises le plus rentable au monde en termes de marge d'exploitation. Il a réalisé au cours de l'exercice 2008-2009 un chiffre d'affaires de 11,63 milliards d'euros pour un bénéfice net de 9,80 milliards d'euros. Son capital est détenu pour une moitié par les familles Porsche et Piëch. Elles possèdent la totalité des actions à droit de vote. Les 50 % restant sont répartis entre des actionnaires privés et institutionnels. La capitalisation boursière de la compagnie est de 7,98 milliards d'euros en janvier 2009. Au 1er trimestre 2009, la société employait 12774 salariés. Néanmoins, fin 2009, lors de la crise financière, la firme Porsche ne parvenait plus à refinancer un emprunt à court terme de 10 milliards de dollars qu'elle avait contracté pour assurer le contrôle de Volkswagen. La firme la plus rentable de l'automobile était au bord de la faillite. C'est ainsi que finalement, à la suite d'un bras de fer d'un an, c'est la firme Porsche qui fut phagocytée par Volkswagen.
Histoire
La première Porsche fut le modèle 64 disponible en 1938. Le second modèle fut la Porsche 356 de 1948 construite à Gmünd en Autriche, où la société avait été évacuée en 1944, mais après avoir construit quarante-neuf voitures elle retourna à Zuffenhausen. Ferdinand Porsche mourut peu après et c'est son fils Ferry Porsche qui prit les rênes. La 356 était une Volkswagen Coccinelle modifiée. Les dernières sortirent avec un quatre cylindres à plat totalement conçu par Porsche. Historiquement, la première ébauche de la 911 date de 1959 ; la version définitive, quant à elle, a été présentée au Salon automobile de Francfort en septembre 1963. La 911 se devait de garder un air de famille avec les 356. Dans le compartiment moteur, on a opté pour un six cylindres de 2 litres, plus léger, refroidi par air, et toujours placé à l'arrière. Sa première appellation fut "901", mais Peugeot ayant déposé tous les numéros comportant un zéro central, elle fut abandonnée au profit de l'actuelle désignation "911". Ainsi naquit la 911 qui, dès lors, n'a cessé d'évoluer avec son moteur "boxer" au couple enthousiasmant et au son qui plaît aux amateurs. Ferdinand Porsche fut un constructeur d'armement au service de l'Allemagne Nazie. Il fut à l'origine de la conception de plusieurs chars allemands, dont le Jagdpanzer Elefant (nommé aussi Ferdinand, baptisé du nom de son fabricant), la Volkswagen Kübelwagen, un véhicule similaire à la Jeep Américaine et dérivé de la Coccinelle. Il présenta une étude sur un char lourd, le futur Tiger I, marché qui fut cependant remporté par Henschel, et une autre sur son successeur, le Tiger II, et, même si une nouvelle fois le marché fut remporté par Henschel, la tourelle type Porsche fut mise en production un moment le temps que celle d'Henschel, meilleure que celle de Porsche, soit produite. Porsche développa aussi un des projets de char super-lourd, le Maus, même s'il était dubitatif quant à son aboutissement. À la fin de la guerre, Ferdinand Porsche échappa de peu à un procès. Porsche n'a pas cessé sa production d'armement, la firme a par exemple été contactée pour la mise au point du successeur du Leopard I, le futur Leopard II. En 1963, après des succès en course, la Porsche 911 fut lancée avec un six cylindres boxer. Ce modèle reste la référence de la marque. Au cours des années, les relations industrielles avec Volkswagen et sa filiale Audi sont restées très proches. Le petit-fils de Ferdinand, Ferdinand Piëch, toujours son principal actionnaire en 2009, fut le président exécutif de Volkswagen. L'actuel est Martin Winterkorn précédemment chez Audi, Piëch ayant pris la présidence du conseil de surveillance (organe de contrôle plutôt que de direction) de Volkswagen. Depuis septembre 2005, Porsche a décidé d'augmenter sa part du capital dans la société Volkswagen avec laquelle il a toujours entretenu des liens étroits (VW-Porsche 914, Audi RS2, Porsche 924). Le Porsche Cayenne partage d'ailleurs sa plateforme avec le VW Touareg. Cette participation s'est encore accrue en 2006, pour atteindre 27,4 % du capital, Porsche se réservant la possibilité de monter jusqu'à 29,9 % (dépasser le seuil des 30 % l'obligerait légalement à lancer une OPA). Au cours de l'été 2006, Porsche obtient l'autorisation de l'État allemand de prendre la minorité de blocage de Volkswagen, en prenant ainsi le contrôle. Après avoir franchi les 30 % du capital, la marque de voitures de sport a été contrainte par la réglementation boursière de lancer une offre publique d'achat sur le reste du capital. Mais l'opération échoua, Porsche proposant délibérément un prix trop faible. Depuis août 2007, le groupe tente d'augmenter ses parts dans Volkswagen. Porsche possédait 50,76 % des parts de Volkswagen à partir du 6 janvier 2009 et avait annoncé vouloir monter à 75 % d'ici la fin de l'année 2009. En 2009, en tentant d'acquérir une majorité de contrôle dans Volkswagen, Porsche a accumulé une importante dette. Elle est incapable de respecter ses engagements financiers, car Volkswagen a vu son titre augmenter de façon appréciable au cours de l'année précédente, permettant à Porsche de réaliser un profit appréciable sur papier. Selon les lois fiscales allemandes, Porsche doit verser un impôt sur cette plus-value, montant en argent qu'elle ne possède pas. En juillet 2009, Porsche a accumulé des dettes dépassant 10 milliards d'euros. Pour éviter la faillite, Porsche a accepté les conditions posées par le Qatar Investment Authority, lequel injectera un important montant dans Porsche tout en l'obligeant à fusionner ses activités avec Volkswagen. Porsche a présenté lors du Challenge Bibendum en mai 2011 un prototype de voiture électrique : le Boxster E, existant en plusieurs versions. Aucune date de commercialisation n'a été annoncée pour le moment, mais il est probable que des voitures électriques Porsche soient disponibles sur le marché dans un avenir "relativement proche".
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Porsche Automobil Holding SE, usually shortened to Porsche or Porsche SE, a Societas Europaea or European Public Company, is a German holding company with investments in the automotive industry. Porsche SE is headquartered in Zuffenhausen, a city district of Stuttgart, Baden-Württemberg and is owned by the Piëch and Porsche families, and Qatar Holdings, through the Qatar Investment Authority (10%). It owns 50.7% of Volkswagen AG and 50.1% of Porsche Zwischenholding GmbH, which owns 100% of Dr. Ing. h.c. F. Porsche AG, the manufacturer of a range of sports cars and SUVs. The company was founded as Dr. Ing. h. c. F. Porsche GmbH in 1931 by Ferdinand Porsche, an Austrian engineer born in Maffersdorf, during the time of the Austro-Hungarian Empire, and Porsche's son-in-law Anton Piëch, an Austrian lawyer.
Corporate structure
Porsche is the owner of Dr. Ing. h.c. F. Porsche AG (Porsche AG), and in June 2007 became a holding company for its stake in Porsche Zwischenholding GmbH (50.1%) (which in turn holds 100% of Porsche AG) and Volkswagen AG (50.7%). In August 2009, Porsche SE and Volkswagen AG reached an agreement that the two companies would merge in 2011, to form an "Integrated Automotive Group". During December 2009, Porsche SE lost control of Porsche Zwischenholding GmbH, which as a result is now a joint venture between Porsche SE and Volkswagen AG. Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa Ferdinand Porsche Aktiengesellschaft), is responsible for the actual production and manufacture of the Porsche automobile line. The company currently produces Porsche 911, Boxster and Cayman sports cars, the Cayenne sport utility vehicle and the four-door Panamera.
Subsidiaries
Other subsidiaries and operating divisions include Porsche Consulting, Porsche Engineering, Porsche Design Group, Mieschke Hofmann und Partner (81.1%) and Bertrandt (25%). Porsche Engineering Group (PEG) has for many years offered consultancy services to various other car manufacturers. Audi, Mercedes, Opel, Studebaker, SEAT, Daewoo, Subaru, Zastava Automobiles and others have consulted Porsche Engineering Group for their cars or engines. The Lada Samara was partly developed by Porsche in 1984. Porsche Engineering Group also helped Harley-Davidson design the Revolution 60-degree v-twin water-cooled engine and gearbox that is used in their V-Rod motorcycle.
History
Professor Ferdinand Porsche founded the company called "Dr. Ing. h. c. F. Porsche GmbH" in 1931, with main offices at Kronenstraße 24 in the centre of Stuttgart. Initially, the company offered motor vehicle development work and consulting, but did not build any cars under its own name. One of the first assignments the new company received was from the German government to design a car for the people, a German: Volkswagen. This resulted in the Volkswagen Beetle, one of the most successful car designs of all time. The Porsche 64 was developed in 1939 using many components from the Beetle.
La première Porsche fut le modèle 64 disponible en 1938. Le second modèle fut la Porsche 356 de 1948 construite à Gmünd en Autriche, où la société avait été évacuée en 1944, mais après avoir construit quarante-neuf voitures elle retourna à Zuffenhausen. Ferdinand Porsche mourut peu après et c'est son fils Ferry Porsche qui prit les rênes. La 356 était une Volkswagen Coccinelle modifiée. Les dernières sortirent avec un quatre cylindres à plat totalement conçu par Porsche. Historiquement, la première ébauche de la 911 date de 1959 ; la version définitive, quant à elle, a été présentée au Salon automobile de Francfort en septembre 1963. La 911 se devait de garder un air de famille avec les 356. Dans le compartiment moteur, on a opté pour un six cylindres de 2 litres, plus léger, refroidi par air, et toujours placé à l'arrière. Sa première appellation fut "901", mais Peugeot ayant déposé tous les numéros comportant un zéro central, elle fut abandonnée au profit de l'actuelle désignation "911". Ainsi naquit la 911 qui, dès lors, n'a cessé d'évoluer avec son moteur "boxer" au couple enthousiasmant et au son qui plaît aux amateurs. Ferdinand Porsche fut un constructeur d'armement au service de l'Allemagne Nazie. Il fut à l'origine de la conception de plusieurs chars allemands, dont le Jagdpanzer Elefant (nommé aussi Ferdinand, baptisé du nom de son fabricant), la Volkswagen Kübelwagen, un véhicule similaire à la Jeep Américaine et dérivé de la Coccinelle. Il présenta une étude sur un char lourd, le futur Tiger I, marché qui fut cependant remporté par Henschel, et une autre sur son successeur, le Tiger II, et, même si une nouvelle fois le marché fut remporté par Henschel, la tourelle type Porsche fut mise en production un moment le temps que celle d'Henschel, meilleure que celle de Porsche, soit produite. Porsche développa aussi un des projets de char super-lourd, le Maus, même s'il était dubitatif quant à son aboutissement. À la fin de la guerre, Ferdinand Porsche échappa de peu à un procès. Porsche n'a pas cessé sa production d'armement, la firme a par exemple été contactée pour la mise au point du successeur du Leopard I, le futur Leopard II. En 1963, après des succès en course, la Porsche 911 fut lancée avec un six cylindres boxer. Ce modèle reste la référence de la marque. Au cours des années, les relations industrielles avec Volkswagen et sa filiale Audi sont restées très proches. Le petit-fils de Ferdinand, Ferdinand Piëch, toujours son principal actionnaire en 2009, fut le président exécutif de Volkswagen. L'actuel est Martin Winterkorn précédemment chez Audi, Piëch ayant pris la présidence du conseil de surveillance (organe de contrôle plutôt que de direction) de Volkswagen. Depuis septembre 2005, Porsche a décidé d'augmenter sa part du capital dans la société Volkswagen avec laquelle il a toujours entretenu des liens étroits (VW-Porsche 914, Audi RS2, Porsche 924). Le Porsche Cayenne partage d'ailleurs sa plateforme avec le VW Touareg. Cette participation s'est encore accrue en 2006, pour atteindre 27,4 % du capital, Porsche se réservant la possibilité de monter jusqu'à 29,9 % (dépasser le seuil des 30 % l'obligerait légalement à lancer une OPA). Au cours de l'été 2006, Porsche obtient l'autorisation de l'État allemand de prendre la minorité de blocage de Volkswagen, en prenant ainsi le contrôle. Après avoir franchi les 30 % du capital, la marque de voitures de sport a été contrainte par la réglementation boursière de lancer une offre publique d'achat sur le reste du capital. Mais l'opération échoua, Porsche proposant délibérément un prix trop faible. Depuis août 2007, le groupe tente d'augmenter ses parts dans Volkswagen. Porsche possédait 50,76 % des parts de Volkswagen à partir du 6 janvier 2009 et avait annoncé vouloir monter à 75 % d'ici la fin de l'année 2009. En 2009, en tentant d'acquérir une majorité de contrôle dans Volkswagen, Porsche a accumulé une importante dette. Elle est incapable de respecter ses engagements financiers, car Volkswagen a vu son titre augmenter de façon appréciable au cours de l'année précédente, permettant à Porsche de réaliser un profit appréciable sur papier. Selon les lois fiscales allemandes, Porsche doit verser un impôt sur cette plus-value, montant en argent qu'elle ne possède pas. En juillet 2009, Porsche a accumulé des dettes dépassant 10 milliards d'euros. Pour éviter la faillite, Porsche a accepté les conditions posées par le Qatar Investment Authority, lequel injectera un important montant dans Porsche tout en l'obligeant à fusionner ses activités avec Volkswagen. Porsche a présenté lors du Challenge Bibendum en mai 2011 un prototype de voiture électrique : le Boxster E, existant en plusieurs versions. Aucune date de commercialisation n'a été annoncée pour le moment, mais il est probable que des voitures électriques Porsche soient disponibles sur le marché dans un avenir "relativement proche".
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Porsche Automobil Holding SE, usually shortened to Porsche or Porsche SE, a Societas Europaea or European Public Company, is a German holding company with investments in the automotive industry. Porsche SE is headquartered in Zuffenhausen, a city district of Stuttgart, Baden-Württemberg and is owned by the Piëch and Porsche families, and Qatar Holdings, through the Qatar Investment Authority (10%). It owns 50.7% of Volkswagen AG and 50.1% of Porsche Zwischenholding GmbH, which owns 100% of Dr. Ing. h.c. F. Porsche AG, the manufacturer of a range of sports cars and SUVs. The company was founded as Dr. Ing. h. c. F. Porsche GmbH in 1931 by Ferdinand Porsche, an Austrian engineer born in Maffersdorf, during the time of the Austro-Hungarian Empire, and Porsche's son-in-law Anton Piëch, an Austrian lawyer.
Corporate structure
Porsche is the owner of Dr. Ing. h.c. F. Porsche AG (Porsche AG), and in June 2007 became a holding company for its stake in Porsche Zwischenholding GmbH (50.1%) (which in turn holds 100% of Porsche AG) and Volkswagen AG (50.7%). In August 2009, Porsche SE and Volkswagen AG reached an agreement that the two companies would merge in 2011, to form an "Integrated Automotive Group". During December 2009, Porsche SE lost control of Porsche Zwischenholding GmbH, which as a result is now a joint venture between Porsche SE and Volkswagen AG. Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa Ferdinand Porsche Aktiengesellschaft), is responsible for the actual production and manufacture of the Porsche automobile line. The company currently produces Porsche 911, Boxster and Cayman sports cars, the Cayenne sport utility vehicle and the four-door Panamera.
Subsidiaries
Other subsidiaries and operating divisions include Porsche Consulting, Porsche Engineering, Porsche Design Group, Mieschke Hofmann und Partner (81.1%) and Bertrandt (25%). Porsche Engineering Group (PEG) has for many years offered consultancy services to various other car manufacturers. Audi, Mercedes, Opel, Studebaker, SEAT, Daewoo, Subaru, Zastava Automobiles and others have consulted Porsche Engineering Group for their cars or engines. The Lada Samara was partly developed by Porsche in 1984. Porsche Engineering Group also helped Harley-Davidson design the Revolution 60-degree v-twin water-cooled engine and gearbox that is used in their V-Rod motorcycle.
History
Professor Ferdinand Porsche founded the company called "Dr. Ing. h. c. F. Porsche GmbH" in 1931, with main offices at Kronenstraße 24 in the centre of Stuttgart. Initially, the company offered motor vehicle development work and consulting, but did not build any cars under its own name. One of the first assignments the new company received was from the German government to design a car for the people, a German: Volkswagen. This resulted in the Volkswagen Beetle, one of the most successful car designs of all time. The Porsche 64 was developed in 1939 using many components from the Beetle.
Porsche's tank prototype, the "Porsche Tiger", that lost to Henschel & Son's Tiger I. During World War II, Volkswagen production turned to the military version of the Volkswagen Beetle, the Kübelwagen, 52,000 produced, and Schwimmwagen, 14,000 produced. Porsche produced several designs for heavy tanks during the war, losing out to Henschel & Son in both contracts that ultimately led to the Tiger I and the Tiger II. However, not all this work was wasted, as the chassis Porsche designed for the Tiger I was used as the base for the Elefant tank destroyer. Porsche also developed the Maus super-heavy tank in the closing stages of the war, producing two prototypes. At the end of World War II in 1945, the Volkswagen factory at KdF-Stadt fell to the British. Ferdinand lost his position as Chairman of the Board of Management of Volkswagen, and Ivan Hirst, a British Army Major, was put in charge of the factory. (In Wolfsburg, the Volkswagen company magazine dubbed him "The British Major who saved Volkswagen.") On 15 December of that year, Ferdinand was arrested for war crimes, but not tried. During his 20-month imprisonment, Ferdinand Porsche's son, Ferry Porsche, decided to build his own car, because he could not find an existing one that he wanted to buy. He also had to steer the company through some of its most difficult days until his father's release in August 1947. The first models of what was to become the 356 were built in a small sawmill in Gmünd, Austria. The prototype car was shown to German auto dealers, and when pre-orders reached a set threshold, production was begun. Many regard the 356 as the first Porsche simply because it was the first model sold by the fledgling company. Porsche commissioned a Zuffenhausen-based company, Reutter Karosserie, which had previously collaborated with the firm on Volkswagen Beetle prototypes, to produce the 356's steel body. In 1952, Porsche constructed an assembly plant (Werk 2) across the street from Reutter Karosserie; the main road in front of Werk 1, the oldest Porsche building, is now known as Porschestrasse. The 356 was road certified in 1948.
Coat of arms of Stuttgart
Porsche's company logo was based on the coat of arms of Free People's State of Württemberg of former Weimar Germany, which had Stuttgart as its capital and became part of Baden-Württemberg after the political consolidation of West Germany in 1949. Not long afterwards, on 30 January 1951, Ferdinand Porsche died from complications following a stroke. In post-war Germany, parts were generally in short supply, so the 356 automobile used components from the Volkswagen Beetle, including its internal combustion engine, transmission, and suspension. The 356, however, had several evolutionary stages, A, B, and C, while in production, and many Volkswagen parts were replaced by Porsche-made parts. The last 356s were powered by entirely Porsche-designed engines. The sleek bodywork was designed by Erwin Komenda who also had designed the body of the Beetle. Porsche's signature designs have, from the beginning, featured air-cooled rear-engine configurations (like the Beetle), rare for other car manufacturers, but producing automobiles that are very well balanced. In 1964, after some success in motor-racing, namely with the Porsche 550 Spyder, the company launched the Porsche 911 another air-cooled, rear-engined sports car, this time with a six-cylinder "boxer" engine. The team to lay out the body shell design was led by Ferry Porsche's eldest son, Ferdinand Alexander Porsche (F. A.). The design phase for the 911 caused internal problems with Erwin Komenda, who led the body design department until then. F. A. Porsche complained Komenda made unauthorized changes to the design. Company leader Ferry Porsche took his son's drawings to neighboring chassis manufacturer Reuter. Reuter's workshop was later acquired by Porsche (so-called Werk 2). Afterward Reuter became a seat manufacturer, today known as Keiper-Recaro.
The design group gave sequential numbers to every project (356, 550, etc.), but the designated 901 nomenclature contravened Peugeot's trademarks on all 'x0x' names, so it was adjusted to 911. Racing models adhered to the "correct" numbering sequence: 904, 906, 908. The 911 has become Porsche's most well-known and iconic model – successful on the race-track, in rallies, and in terms of road car sales. Far more than any other model, the Porsche brand is defined by the 911. It remains in production; however, after several generations of revision, current-model 911s share only the basic mechanical concept of a rear-engined, six-cylinder coupé, and basic styling cues with the original car. A cost-reduced model with the same body, but 356-derived running gear (including its four-cylinder engine), was sold as the 912.
In 1972, the company's legal form was changed from Kommanditgesellschaft (KG), or limited partnership, to Aktiengesellschaft (AG), or public limited company, because Ferry Porsche and his sister, Louise Piëch, felt their generation members did not team up well. This led to the foundation of an Executive Board whose members came from outside the Porsche family, and a Supervisory Board consisting mostly of family members. With this change, no family members were in operational charge of the company. F. A. Porsche founded his own design company, Porsche Design, which is renowned for exclusive sunglasses, watches, furniture, and many other luxury articles. Ferdinand Piëch, who was responsible for mechanical development of Porsche's serial and racing cars, formed his own engineering bureau, and developed a five-cylinder-inline diesel engine for Mercedes-Benz. A short time later he moved to Audi, and pursued his career through the entire company, up to and including, the Volkswagen Group boards.
The first Chief Executive Officer (CEO) of Porsche AG was Dr. Ernst Fuhrmann, who had been working in the company's engine development. Fuhrmann was responsible for the so-called Fuhrmann-engine used in the 356 Carrera models, as well as the 550 Spyder, having four overhead camshafts instead of a central camshaft with pushrods, as in the Volkswagen-derived serial engines. He planned to cease the 911 during the 1970s, and replace it with the V8-front engined grand sportswagon 928. As we know today, the 911 outlived the 928 by far. Fuhrmann was replaced in the early 1980s by Peter W. Schutz, an American manager and self-proclaimed 911 aficionado. He was then replaced in 1988 by the former manager of German computer company Nixdorf Computer AG, Arno Bohn, who made some costly miscalculations that led to his dismissal soon after, along with that of the development director, Dr. Ulrich Bez, who was formerly responsible for BMW's Z1 model, and today is CEO of Aston Martin.
Coat of arms of Stuttgart
Porsche's company logo was based on the coat of arms of Free People's State of Württemberg of former Weimar Germany, which had Stuttgart as its capital and became part of Baden-Württemberg after the political consolidation of West Germany in 1949. Not long afterwards, on 30 January 1951, Ferdinand Porsche died from complications following a stroke. In post-war Germany, parts were generally in short supply, so the 356 automobile used components from the Volkswagen Beetle, including its internal combustion engine, transmission, and suspension. The 356, however, had several evolutionary stages, A, B, and C, while in production, and many Volkswagen parts were replaced by Porsche-made parts. The last 356s were powered by entirely Porsche-designed engines. The sleek bodywork was designed by Erwin Komenda who also had designed the body of the Beetle. Porsche's signature designs have, from the beginning, featured air-cooled rear-engine configurations (like the Beetle), rare for other car manufacturers, but producing automobiles that are very well balanced. In 1964, after some success in motor-racing, namely with the Porsche 550 Spyder, the company launched the Porsche 911 another air-cooled, rear-engined sports car, this time with a six-cylinder "boxer" engine. The team to lay out the body shell design was led by Ferry Porsche's eldest son, Ferdinand Alexander Porsche (F. A.). The design phase for the 911 caused internal problems with Erwin Komenda, who led the body design department until then. F. A. Porsche complained Komenda made unauthorized changes to the design. Company leader Ferry Porsche took his son's drawings to neighboring chassis manufacturer Reuter. Reuter's workshop was later acquired by Porsche (so-called Werk 2). Afterward Reuter became a seat manufacturer, today known as Keiper-Recaro.
The design group gave sequential numbers to every project (356, 550, etc.), but the designated 901 nomenclature contravened Peugeot's trademarks on all 'x0x' names, so it was adjusted to 911. Racing models adhered to the "correct" numbering sequence: 904, 906, 908. The 911 has become Porsche's most well-known and iconic model – successful on the race-track, in rallies, and in terms of road car sales. Far more than any other model, the Porsche brand is defined by the 911. It remains in production; however, after several generations of revision, current-model 911s share only the basic mechanical concept of a rear-engined, six-cylinder coupé, and basic styling cues with the original car. A cost-reduced model with the same body, but 356-derived running gear (including its four-cylinder engine), was sold as the 912.
In 1972, the company's legal form was changed from Kommanditgesellschaft (KG), or limited partnership, to Aktiengesellschaft (AG), or public limited company, because Ferry Porsche and his sister, Louise Piëch, felt their generation members did not team up well. This led to the foundation of an Executive Board whose members came from outside the Porsche family, and a Supervisory Board consisting mostly of family members. With this change, no family members were in operational charge of the company. F. A. Porsche founded his own design company, Porsche Design, which is renowned for exclusive sunglasses, watches, furniture, and many other luxury articles. Ferdinand Piëch, who was responsible for mechanical development of Porsche's serial and racing cars, formed his own engineering bureau, and developed a five-cylinder-inline diesel engine for Mercedes-Benz. A short time later he moved to Audi, and pursued his career through the entire company, up to and including, the Volkswagen Group boards.
The first Chief Executive Officer (CEO) of Porsche AG was Dr. Ernst Fuhrmann, who had been working in the company's engine development. Fuhrmann was responsible for the so-called Fuhrmann-engine used in the 356 Carrera models, as well as the 550 Spyder, having four overhead camshafts instead of a central camshaft with pushrods, as in the Volkswagen-derived serial engines. He planned to cease the 911 during the 1970s, and replace it with the V8-front engined grand sportswagon 928. As we know today, the 911 outlived the 928 by far. Fuhrmann was replaced in the early 1980s by Peter W. Schutz, an American manager and self-proclaimed 911 aficionado. He was then replaced in 1988 by the former manager of German computer company Nixdorf Computer AG, Arno Bohn, who made some costly miscalculations that led to his dismissal soon after, along with that of the development director, Dr. Ulrich Bez, who was formerly responsible for BMW's Z1 model, and today is CEO of Aston Martin.
In 1990, Porsche drew up a memorandum of understanding with Toyota to learn and benefit from Japanese lean production methods. In 2004 it was reported that Toyota was assisting Porsche with hybrid technology.
Following the dismissal of Bohn, an interim CEO was appointed, longtime Porsche employee, Heinz Branitzki, who served in that position until Dr. Wendelin Wiedeking became CEO in 1993. Wiedeking took over the chairmanship of the board at a time when Porsche appeared vulnerable to a takeover by a larger company. During his long tenure, Wiedeking has transformed Porsche into a very efficient and profitable company.
Ferdinand Porsche's grandson, Ferdinand Piëch, was chairman and CEO of the Volkswagen Group from 1993 to 2002. Today he is chairman of the Supervisory Board. With 12.8 percent of the Porsche voting shares, he also remains the second largest individual shareholder of Porsche AG after his cousin, F. A. Porsche, (13.6 percent).
Porsche's 2002 introduction of the Cayenne also marked the unveiling of a new production facility in Leipzig, Saxony, which once accounted for nearly half of Porsche's annual output. In 2004, production of the 456 kilowatts (620 PS; 612 bhp) Carrera GT commenced in Leipzig, and at EUR 450,000 ($440,000 in the United States) it was the most expensive production model Porsche ever built.
As of 2005, the extended Porsche and Piëch families controlled all of Porsche AG's voting shares. In early October 2005 the company announced acquisition of an 18.53% stake in Volkswagen AG (VW AG), and disclosed intentions to acquire additional VW AG shares in the future.
Following the dismissal of Bohn, an interim CEO was appointed, longtime Porsche employee, Heinz Branitzki, who served in that position until Dr. Wendelin Wiedeking became CEO in 1993. Wiedeking took over the chairmanship of the board at a time when Porsche appeared vulnerable to a takeover by a larger company. During his long tenure, Wiedeking has transformed Porsche into a very efficient and profitable company.
Ferdinand Porsche's grandson, Ferdinand Piëch, was chairman and CEO of the Volkswagen Group from 1993 to 2002. Today he is chairman of the Supervisory Board. With 12.8 percent of the Porsche voting shares, he also remains the second largest individual shareholder of Porsche AG after his cousin, F. A. Porsche, (13.6 percent).
Porsche's 2002 introduction of the Cayenne also marked the unveiling of a new production facility in Leipzig, Saxony, which once accounted for nearly half of Porsche's annual output. In 2004, production of the 456 kilowatts (620 PS; 612 bhp) Carrera GT commenced in Leipzig, and at EUR 450,000 ($440,000 in the United States) it was the most expensive production model Porsche ever built.
As of 2005, the extended Porsche and Piëch families controlled all of Porsche AG's voting shares. In early October 2005 the company announced acquisition of an 18.53% stake in Volkswagen AG (VW AG), and disclosed intentions to acquire additional VW AG shares in the future.
As of June 2006, the Porsche AG stake in VW AG had risen to 25.1%, giving Porsche a blocking minority, whereby Porsche can veto large corporate decisions undertaken by VW AG.
In mid-2006, after years of the Boxster (and later the Cayenne) as the dominant Porsche in North America, the 911 regained its position as Porsche's backbone in the region. The Cayenne and 911 have cycled as the top-selling model since. In Germany the 911 clearly outsells the Boxster/Cayman and Cayenne.
In May 2011, Porsche Cars North America announced plans to spend $80-$100 million, but will receive about $15 million in economic incentives to move their North American headquarters from Sandy Springs, a suburb of Atlanta, to Aerotropolis Atlanta, a new mixed-use development on the site of the old Ford Hapeville plant adjacent to Atlanta's airport. Designed by architectural firm HOK, the headquarters will include a new office building and test track.
In mid-2006, after years of the Boxster (and later the Cayenne) as the dominant Porsche in North America, the 911 regained its position as Porsche's backbone in the region. The Cayenne and 911 have cycled as the top-selling model since. In Germany the 911 clearly outsells the Boxster/Cayman and Cayenne.
In May 2011, Porsche Cars North America announced plans to spend $80-$100 million, but will receive about $15 million in economic incentives to move their North American headquarters from Sandy Springs, a suburb of Atlanta, to Aerotropolis Atlanta, a new mixed-use development on the site of the old Ford Hapeville plant adjacent to Atlanta's airport. Designed by architectural firm HOK, the headquarters will include a new office building and test track.