The former CEO of Porsche, Peter Schutz, has passed away at the age of 87. He is most remembered for his efforts to revive Porsche and save the Porsche 911 from being discontinued. The Iconic 911 has been a staple in the Porsche product line and became a huge part of their revival as a company. Though Schutz did not stay in his position as CEO of Porsche for very long he is widely accredited with improving the company and allowing it to grow into the successful and culturally iconic company it is today.
- In 1979, Porsche had made plans to replace the 911 with the new 928. The working logic was that the 911 was too quirky, impractical, and a bit of a handful. Porsche executives figured it just made good sense to swap it with something that had a broader appeal, especially as the company’s finances weren’t looking particularly robust at the time.
- Other accounts of that meeting are far more confrontational, but the point is that the decision to keep the 911 essentially came down to one man’s gut reaction.
- German automotive website GTSpirit reported that Peter Schutz passed away over the weekend at the ripe old age of 87. We can’t imagine what Porsche would look like today without him.
“The second a company hits a slump, it’s suddenly in the market for new blood — someone to save the company. And saving Porsche is exactly what Schutz did.”