US EditionPorsche names former McLaren boss as potential successor to CEO Blume
- On Friday, Porsche named Michael Leiters, former CEO of McLaren, as potential successor to Oliver Blume, CEO of Porsche and Volkswagen Group.
- Blume has led Porsche for 10 years and held the dual CEO role for the past three years, a setup investors criticised as overly burdensome during restructuring at Porsche and Volkswagen Group.
- Porsche's performance details include struggles in China and Blume's recent EV strategy reversal amid tariffs and weak demand, while Volkswagen stock fell over a third and Porsche shares dropped more than half.
- The supervisory board authorised talks as Porsche said "Negotiations with Dr. Leiters will be initiated" on Friday, and the board said Blume will remain at Volkswagen.
- Several German media reported earlier Friday that the supervisory board agreed to part with Blume so he could focus on Volkswagen, with Porsche exiting the DAX last month amid tariffs, weak Chinese demand and EV shift.
113 Articles
113 Articles
Porsche Recruits Former McLaren Chief Leiters to Lead Turnaround Effort
Porsche is looking to hire ex-McLaren CEO Michael Leiters as its new CEO to improve the company’s performance and end the dual role held by Oliver Blume, who has been running both Porsche and its parent company Volkswagen. Under Blume’s leadership, both companies have faced challenges, including global tariffs and decreased demand in China. Porsche’s […] The post Porsche Recruits Former McLaren Chief Leiters to Lead Turnaround Effort appeared fi…
VW CEO Oliver Blume gives up his position as Porsche Chief Executive Officer prematurely. The Stuttgart-based automaker announced this. A successor is probably already established.
Oliver Blume leads Volkswagen, Michael Leiters is to direct Porsche in the future. Well, that's what makes us hope that even the powerful owners' families have understood the signs of the times.
Former McLaren chief eyed as potential Porsche CEO (POAHY:OTCMKTS)
Porsche’s (POAHY) executive committee has authorized the chairman of its supervisory board to enter talks with CEO Dr. Oliver Blume over a potential early, mutually agreed termination of his role on the executive board, the German carmaker said.
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