Sports car manufacturer Porsche, controlled by the eponymous founding family, has announced it will sponsor a new family business post at German business school HHL Leipzig.
Dr Stephan Stubner will be the first person to hold the chair of strategic management and family business position – which Porsche has committed to sponsor for an initial period of five years.
The company said the aim of the post was to offer scientifically-founded solutions to the issues faced by entrepreneurs and family businesses.
Lutz Meschke, chief financial officer of Porsche, said in a statement: "Porsche stands for a successful product strategy and decades of tradition."
He added: "The new [post] is an ideal symbiosis of science and economy, and offers young people and managers a facility to link theory with practical experience."
Stubner has an academic background in international entrepreneurship and family business strategy and governance, in addition to many years experience in strategic consulting.