Porsche Announces CEO Change Amidst Investor Pressure
Porsche has announced that it will be replacing its current CEO, Oliver Blume, following months of internal pressure and mounting dissatisfaction from investors. The Supervisory Board confirmed that negotiations have begun for an early and mutually agreed termination of Blume’s mandate as head of Porsche AG.
Michael Leiters to Take the Reins
Michael Leiters, the former CEO of McLaren Automotive and a former Porsche executive with 13 years of experience at the company, is set to take over as the new CEO. Leiters is widely regarded as the ideal candidate to revitalize the Zuffenhausen-based brand.
Challenges Facing Porsche
The change in leadership comes at a critical time for Porsche, which has become increasingly vulnerable to market instability. Weak demand in China, rising export tariffs to the US, and uncertainty around the transition to electric vehicles have all taken a toll on the company. The costly overhaul of its $2.1 billion EV strategy has also raised concerns among shareholders.
Shareholder Concerns
A projected operating margin of just 2 percent for 2025 has raised red flags among shareholders, who have long questioned Blume’s dual leadership role as CEO of both Porsche and the Volkswagen Group. The concern is that this overlap has diluted Porsche’s strategic focus and decision-making ability at a time when the company urgently needs dedicated, autonomous leadership.
Who is Michael Leiters?
Michael Leiters is no stranger to Porsche, having spent 13 years at the company from 2000 to 2013. During his tenure, he held key roles in product development and oversaw projects such as the Cayenne, an SUV that redefined the brand’s trajectory by driving record sales and profits.
[Image: New Porsche CEO Michael Leiters]
After leaving Porsche, Leiters joined Ferrari as Chief Technology Officer, where he played a pivotal role in the brand’s technical evolution. He later became CEO of McLaren Automotive, where he led the launch of the 750S and the hybrid Artura.
Leiters’ Qualifications
Leiters brings a unique combination of deep familiarity with the Porsche brand, international experience, and strong technical credentials. The Supervisory Board believes that he is the right leader to restore Porsche’s stability and competitive edge on the global stage.
What’s Next?
Negotiations are now officially underway, and if an agreement is reached, Leiters will assume leadership of Porsche, while Oliver Blume will continue as CEO of the Volkswagen Group, formally separating the two roles and marking the beginning of a new chapter for both companies.
