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| At 43 years of age Schwab's replacement Peter Schwarzenbauer is extremely young for North America's top job. That said he developed a wealth of experience with BMW prior to joining Porsche in 1994. |
Peter Schwarzenbauer (43) comes from Bavaria's Weissenburg, but schooled in both Munich and Brazil. After a successful career, that eventually saw him take over European sales management for BMW's motorcycles division in Munich, Schwarzenbauer moved to Porsche AG in 1994. Initially a Sales Manager for the German market he soon graduated to Head of Marketing. In 1997 the Stuttgart-based company appointed him Managing Director of Porsche Iberica, Madrid. Schwarzenbauer is married and has one son.
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| Porsche's new Cayenne SUV, the most controversial model in the Stuttgart firms history, has nevertheless showed initial signs of popularity backed by a significant number of deposits. This success should help Porsche to experience growth despite the car industry's current challenges. (Photo: Trevor Hofmann, Canadian Auto Press) |
While March 1, 2003 will mark the end of an unprecedented era of PCMA success under the leadership of Fred Schwab, there's no doubt the comparatively youthful Peter Schwarzenbauer has what it takes to progress the company forward, despite North America's current economic downturn.
As it appears, while some automaker's mid-priced new cars and trucks have needed incentives to spur on sales, top-tier luxury and sports models, such as those from Porsche, are thriving. Its new Cayenne SUV, that has reportedly received a deluge of deposits even before becoming available, should provide an additional boost to the bottom line, another success added to Schwab's legacy and an appreciable gift for the new man in charge.