In celebration of its 70th anniversary in 2018, the Stuttgart-based sports car maker has established the foundation with initial funding of 20 million euros.
Porsche is reinforcing its commitment to social responsibility. As the brand marks its 70th year, the Stuttgart-based sports car manufacturer has established the Ferry Porsche Foundation. This is intended primarily to support projects in connection with education and social issues, as well as play an active role in youth development.
The company is making an initial investment of 10 million euros in the foundation, with a further 10 million euros to follow in a second stage. Porsche AG will provide additional funds to the foundation each year from the company’s profits. In previous years, Porsche has invested up to five million euro annually to promote civil, cultural and social institutions.
The foundation’s name stems from Ferry Porsche, son of famous vehicle designer Professor Ferdinand Porsche, who founded the Porsche sports car brand in 1948. With the 356 model, he turned his dream of the perfect sports car into a reality. To this day, the company is shaped by Porsche’s socially conscious management philosophy that puts the interests of the employees first.
The Ferry Porsche Foundation will primarily focus on projects in and around the company’s plants in Stuttgart, Weissach and Leipzig. There will also be projects at locations around the world. The foundation supports projects relating to science, research and education, as well as training and development, promotes cultural and environmental initiatives and helps people who are affected by social hardship. In each case, the focus is placed primarily on young people. In the future, Porsche also plans to establish and expand its own programmes within the foundation.
The Ferry Porsche Foundation will be overseen by a Board of Trustees who will provide guidance and advice in relation to the selection of projects and the distribution of funds. The trustees will also ensure that these funds are used appropriately. Dr Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG and son of Ferry Porsche, is the Honorary Chairman of the Board of Trustees. Oliver Blume is the Chairman. Uwe Hück, Chair of the Group Works Council, will assume the role of Deputy Chairman. Andreas Haffner, Member of the Executive Board for Human Resources, and Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT, are also members of the Board of Trustees.
“For Porsche, economic success and social responsibility are inextricably linked”, said Oliver Blume, Chairman of the Executive Board of Porsche AG. “Through the Ferry Porsche Foundation, we aim to strengthen our existing social and civic activities in a sustainable way, independent of our day-to-day commercial operations.”
Read about the 70 years of Porsche sports cars.
Check out the 1962 Porsche 356B owned by a Singaporean aesthetics doctor.
Check out the tin-toy museum owned by Hans-Peter Porsche, son of Ferry Porsche.
