New president at Porsche Engineering ATLANTA — Porsche AG names August Hofbauer as president and chief executive of Porsche Engineering Services, Inc. (PES), a design and engineering subsidiary of Porsche that works with OEMs and their first suppliers. Hofbauer, 41, chief engineer and acting chief executive of the Troy, Michigan-based PES since June 1996, previously worked at Porsche AG in Germany and was a member of Porsche's engine development group in Weissach, Germany. Price cut on ...

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