Dr. Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG: “As CEO of Porsche AG, Dr. Oliver Blume has taken great responsibility in challenging times and successfully managed the company. The Supervisory Board of Porsche AG would like to thank Dr. Blume for his strong commitment. We look forward to continuing to work closely and trustingly with him as CEO of Volkswagen Group.”
As CEO of Porsche AG, Oliver Blume paved the way for record financial years, the IPO of Porsche AG, and the expansion into further international markets, as well as historic motorsport successes. He prepared the generational change in the Porsche Executive Board in a long-term and strategic manner.
Dr. Oliver Blume, Chairman of the Board of Management of Volkswagen Group and Porsche AG: "After ten years of responsibility for Porsche AG, I have decided to hand over my duties to my successor at the end of the year in the interests of Volkswagen Group. I have had the privilege of developing a great company with a fantastic team. I am delighted that Michael Leiters, an experienced professional in the sports car business, is taking on this role. He and the new management team have my full confidence. I wish them every success.”
With regards to the current situation of the company, Oliver Blume says: "Massive changes in what are by far Porsche's largest single markets, the USA and China, have placed new demands on our business model. That is why we have structurally realigned the company this year and comprehensively expanded our product strategy. With full flexibility in drivetrain and an improved cost structure, Porsche is now robustly positioned for the future. In my role for Volkswagen Group, I will closely accompany and support the further development of Porsche."
Dr. Oliver Blume’s successor will be Dr. Michael Leiters. Leiters has been CEO of McLaren Automotive from July 2022 until April 2025, having previously served as CTO for Ferrari for more than eight years. Leiters is no stranger to Porsche AG. Before taking up his position at Ferrari, he held positions at Porsche for more than 13 years, most recently with responsibility for the Porsche Macan and Porsche Cayenne series.
“Dr. Michael Leiters has decades of experience in the automotive industry. His leadership style and in-depth expertise are ideal prerequisites for successfully chairing the Executive Board of Porsche AG. He and the entire Executive Board team at Porsche AG enjoy the confidence of the Supervisory Board in overcoming the current challenges,” says Dr. Wolfgang Porsche.
