By Euan Conley

Porsche Automobil Holding SE (PAH3.XE) said Monday that the appointment of Siegfried Wolf to its supervisory board will be postponed after he flagged the potential impact of April U.S. sanctions against Russian companies including Gorkowski Awtomobilny Sawod, for which he serves as chairman.

"In the interest of Porsche he wants to wait for clearance of the harmlessness of his mandate at GAZ for his new assignment on the supervisory board of Porsche SE," the company said in a statement.

Mr. Wolf had been due to stand for election to the board at Porsche's AGM on 15 May.

Write to Euan Conley at euan.conley@dowjones.com

(END) Dow Jones Newswires

May 14, 2018 11:33 ET (15:33 GMT)

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