Volkswagen Group CEO Oliver Blume is set to step down as CEO of the sports car manufacturer Porsche, with Michael Leiters, the former head of McLaren Automotive, reportedly in line to succeed him. According to the company, the supervisory board has tasked its chairman with negotiating an amicable early departure for Blume from the Porsche executive board, while he will continue to lead the parent company, Volkswagen, Baltimore Chronicle with a reference to Insider reports.
Blume has led Porsche for a decade and has additionally served as CEO of Volkswagen since summer 2022. His dual role at the helm of both companies has long drawn criticism from investors and analysts, who warn of potential conflicts of interest. In September, Volkswagen’s works council chair, Daniela Cavallo, publicly called for an end to the arrangement: “The CEO cannot be a part-time boss in Wolfsburg while spending the rest of the time at Porsche.” Recent media reports and insider sources indicate that Porsche has been actively seeking a successor to lead the sports car brand. Blume had previously stated that his dual role “was not meant to be permanent,” though he defended it as recently as a few days ago, highlighting its benefits for strategic decision-making and operational oversight within the Volkswagen Group.
The timing of the leadership change comes amid challenges for Porsche. The company recently scaled back its electric vehicle plans, resulting in a cost of €3.1 billion this year alone. Porsche has also lowered its profit forecast for the third time in 2025, anticipating reduced margins and a significantly smaller dividend. The automaker has faced ongoing pressure due to weak performance in the Chinese market.
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