Dr. Ing. h.c. F. Porsche AG is mourning the loss of Peter W. Schutz. The former President and CEO of Porsche AG passed away on October 29, 2017 at the age of 87. Porsche is grateful to Mr. Schutz not only for preserving the iconic 911 sports car, but also for successfully introducing the 911 Cabriolet to the US market.
When Peter W. Schutz took over as President and CEO of Porsche AG in January 1981, the company was experiencing a difficult period. In 1980, Porsche had recorded its first ever losses. But in just his third week as Porsche CEO, Mr. Schutz reversed the company’s earlier decision to cease production of the 911. The car’s success continues to justify this move, as the 911 has been regarded as an iconic vehicle and the ultimate sports car for over five decades.
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