Porsche, which is majority-owned by Volkswagen, suffered a 33% drop in China sales during the first half of this year, the company announced earlier this month.
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German luxury sportscar maker Porsche AG announced on Saturday that it will replace the chief executive of its China business, following a significant drop in sales in the world’s largest automotive market.
Alexander Pollich is set to become the new Porsche China CEO on September 1, 2024, replacing Michael Kirsch, who will transition to another unspecified role within the company.
Pollich, 57, brings over 23 years of experience with Porsche and is currently the chairman of the executive board of Porsche Deutschland GmbH. He is described as an “internationally experienced sales expert.”
China accounted for nearly 20% of Porsche’s global deliveries, but the group’s shares have been under pressure due to growing trade tensions with China, a market where Porsche relies solely on imports.
Porsche stated that Pollich’s primary task will be to implement a value-oriented growth strategy for China. “Beyond this, his focus will be on an even more intensive collaboration with local dealer partners as well as the further optimization of internal processes and structures,” the company said.
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