Porsche Seeks New CEO – Plans for VW

Porsche has officially begun the search for a successor to CEO Oliver Blume, signaling a likely end to his dual role at Porsche and parent company Volkswagen. Investors have expressed concerns about transparency and corporate governance due to his simultaneous holding of the two positions.

Although Blume has stated that the dual role was not intended to be permanent, no date has been set for ending the connection. WirtschaftsWoche magazine reported that succession talks are underway and an appointment is expected in the fall, considering both internal and external candidates.

Porsche is undergoing restructuring amid weak demand in China, a transition to electric vehicles, and increased US tariffs. Porsche shares have fallen by approximately 45% since their stock market launch in 2022, but rose following the news about the new CEO.

The Handelsblatt newspaper reported potential successors to Blume.