Change in management

Stuttgart. Marc Rieß (43) will become the new Chief Operating Officer (COO) of Porsche Financial Services on 1 February, 2020. Rieß has been Chief Financial Officer (CFO) of Porsche Financial Services in the USA and Canada since 2012 and was previously responsible there for risk management and controlling. “In addition to his subject matter expertise, Marc Rieß will also bring us his extensive experience from an international environment,” says Lutz Meschke, Deputy Chairman and Member of the Executive Board for Finance and IT at Porsche AG.

Rieß has worked in different management positions at Porsche Financial Services since 2003. His predecessor as Chief Operating Officer, Jörg Pape, moved as CEO to Volkswagen Financial Services Brazil in August 2019. He had been COO of Porsche Financial Services since September 2017. Before that, Pape was CEO of VW Financial Services in Mexico for four years.

Based in Bietigheim-Bissingen, Porsche Financial Services is a wholly owned subsidiary of the sports car manufacturer. It offers customised finance products for Porsche vehicles and the Volkswagen brands Bentley, Lamborghini and Bugatti as well as dealer finance, insurance and credit cards. The company group is responsible for more than 248,000 leasing and finance contracts with a volume of around 7.4 billion euros worldwide. Over the past five years, the total number of contracts and the portfolio have almost doubled.