At the annual general meeting of Porsche Automobil Holding SE (Porsche SE), shareholders approved the enlargement of the supervisory board from six to 10 members by means of an amendment to the articles of association.

As soon as the amendment to the articles of association has been entered in the commercial register, Josef Michael Ahorner, Stefan Piech and Peter Daniell Porsche in addition to Gunther Horvath and Marianne Heiss will join the supervisory board.

Siegfried Wolf had earlier informed the supervisory board he did not yet want to stand for election for the board at the AGM.

Hans-Peter Porsche retired from his position on the board effective as of the end of the annual general meeting.

Shareholders approved the distribution of a dividend of EUR1.76 per share.

"The shareholders exonerated the members of the executive board and those of the supervisory board holding office in the fiscal year 2017," Porsche SE said in a statement.