Porsche AG Streamlines Board Structure

By Joshua Kirby

Porche AG said it is trimming its executive structure as part of a strategy revamp.

The high-end sportscar maker's executive board will see its divisions reduced to seven from eight, with Car IT suspended, the company said Thursday. The division will be integrated into the research & development division from July 1, Porsche said.

The company is in a "challenging phase of transformation," necessitating an adaptation of its structure, supervisory board Chair Wolfgang Porsche said.

Write to Joshua Kirby at [e-mail]; @joshualeokirby

(END) Dow Jones Newswires

05-07-26 1154ET