Peter W. Schutz

Peter W. Schutz (born April 20, 1930) was the president and CEO of Porsche between 1981 and 1986, a time in which the company greatly expanded sales, primarily in the United States. Today he is a motivational speaker and co-founder of Harris and Schutz Inc., with his wife Sheila Harris-Schutz.

Peter Schutz was born to Jewish parents in Berlin, Germany. The rise of the Nazi party led to the family fleeing to Havana, Cuba in 1937. In March 1939 they emigrated to Chicago, Illinois. Schutz grew up in Chicago, and received a BS degree in Mechanical Engineering from the Illinois Institute of Technology.

After graduation, Schutz worked as an engineer at Caterpillar Tractor in Peoria, Illinois for 15 years. He left Caterpillar for Cummins Engine, where he served 11 years, initially in corporate strategic planning, and then 8 years as Vice President responsible for sales and service of truck engines in the U.S. and Canada. During this time he worked with freight hauling companies to improve their profitability, instituting driver performance measures. Profits surged, and the Teamsters invited Schutz to speak at their 1976 convention. When Cummins management questioned his decision to accept the appearance, he left the company. In 1978 he took over the Deutz Engine Division of Klöckner-Humboldt-Deutz.

In 1980 Porsche suffered its first money-losing year in history, much of the problem due to falling sales in the U.S. and lackluster takeup of their new designs, the 924 and 928. Porsche removed long-time CEO Ernst Fuhrmann and started looking for a replacement. Ferry Porsche personally invited Schutz to apply as one of 12 potential candidates for the position. Porsche told Schutz that the company was simply not working as a unit, and needed someone to bring the various divisions together. Although it was never specifically stated, it was widely believed that Schutz was selected in order to have an American running the company to re-ignite sales in the U.S.

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