Porsche is planning a giant new rent within the lead as much as its possible preliminary public providing.

The Volkswagen Group-owned sports-car maker intends to nominate Sajjad Khan to its government board, in response to an emailed assertion.

Khan was chief know-how officer at rival Mercedes-Benz till a yr in the past, when he left to begin a enterprise capital fund.

Khan, 48, is anticipated to tackle an analogous position at Porsche, focusing totally on automotive tech, the Stuttgart-based model mentioned.

It’s not but been determined precisely when the corporate will make a closing determination on his appointment and begin date. Handelsblatt reported earlier Thursday that Khan’s transfer to Porsche was imminent.

Porsche has lined up investor curiosity for its preliminary public providing at a valuation of as a lot as $85 billion, signaling one in all Europe’s biggest-ever listings is poised to go forward regardless of market headwinds, folks acquainted with the matter mentioned final week.

Khan could be a significant addition to a administration group led by Olive Blume, who turned CEO of VW on Thursday.

Khan is an Automotive Information Europe 2019 Eurostar.