Porsche Eyes Deeper Overhaul as Virus Shatters Industry
- CFO Meschke wants quicker response time when markets change
- Virus outbreak adds to challenges for industrial manufacturers
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Porsche AG is looking to expand a 6 billion-euro ($6.9 billion) efficiency drive to help shoulder record investment and make Volkswagen AG’s most profitable brand more resilient to market slumps.
While parts of the original plan are still under discussion with unions, the maker of the iconic 911 sportscar needs to do more to remain competitive, Chief Financial Officer Lutz Meschke said in an interview.