Stuttgart, 15 December 2009. The supervisory board and the executive board of Porsche Automobil Holding SE, Stuttgart, have decided to propose to the next annual general meeting that the Porsche fiscal year be aligned with the calendar year. The company's fiscal year currently runs from 1 August of one year to 31 July of the following year. If the annual general meeting on 29 January 2010 in the Porsche-Arena in Stuttgart approves the change, Porsche will have an abbreviated fiscal year in the coming year. It would be introduced following the close of the fiscal year 2009/10 ending 31 July 2010 for the period from 1 August 2010 to 31 December 2010. The year 2011 would then be the first fiscal year of Porsche to match the calendar year.
Regarding the investigations by the public prosecutor against the former members of the executive board Dr. Wendelin Wiedeking and Holger P. Härter, Porsche SE examined these matters and also commissioned expert reports from two university professors with special expertise in capital market law. The examination and the expert reports come to the conclusion that there was no infringement of the law. However, the executive board and the supervisory board feel that the resolution to exonerate the two former members of the executive board should not be taken until investigations have been completed. Accordingly, the executive board and the supervisory board will propose to the annual general meeting on 29 January 2010 that the resolution on exonerating the former executive board members Dr. Wendelin Wiedeking and Holger P. Härter for the fiscal year 2008/09 be postponed.
The official invitation of the shareholders of Porsche SE to the annual general meeting on 29 January 2010 will be published in the next few days.