Porsche is planning an enormous 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 line with an emailed assertion.

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

Khan, 48, is predicted to tackle the same function at Porsche, focusing totally on automobile tech, the Stuttgart-based model stated.

It’s not but been determined precisely when the corporate will make a remaining 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 conversant in the matter stated final week.

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

Khan is an Automotive Information Europe 2019 Eurostar.