STUTTGART, BERLIN, Oct. 17, 2025: Porsche’s supervisory board has moved to end Oliver Blume’s tenure as CEO of Porsche AG, arranging for him to step down early in 2026, while he will retain his role as chief executive of Volkswagen Group. In a statement, Porsche confirmed that its executive committee has authorised the chairman of the supervisory board to enter into talks with Blume for a mutually agreed early termination of his appointment at Porsche.
The company also disclosed that former McLaren CEO Michael Leiters is a candidate under consideration for the top job at Porsche. Blume has led Porsche since 2015 and added the CEO role at Volkswagen in 2022. His dual leadership structure has been under increasing scrutiny amid declines in both companies’ market performance. The board is scheduled to vote on his successor at its full meeting on Oct. 24. The transition is expected to take effect in early 2026.
Porsche did not disclose the identity of the candidate it currently favors nor the terms of any prospective agreement with Blume. The talks and selection process are framed as internal matters. Leiters, who previously led McLaren until April 2025, had a prior tenure at Porsche and also held senior engineering roles at Ferrari. He is viewed by Porsche leadership as a potential successor. Separately, German mutual fund firm Deka Investment publicly asserted that Blume’s departure from Porsche should be viewed as overdue.
Oliver Blume to remain Volkswagen CEO after leaving Porsche
Ingo Speich, head of sustainability and corporate governance at Deka, urged that Blume concentrate fully on the VW Group’s restructuring and restore market confidence. Labour voices have also added pressure in recent months. In September, Volkswagen’s works council head Daniela Cavallo stated that the dual CEO arrangement was untenable, writing in an internal memo that “the chief executive cannot be a part-time boss in Wolfsburg and spend the rest of his time at Porsche.”
Investor concerns have centered on Porsche’s weakening profitability and Volkswagen’s complex restructuring demands. Since Blume assumed control of both firms, Porsche’s stock has fallen sharply, prompting the company’s removal from Germany’s blue-chip DAX index. Volkswagen shares have also declined under his tenure. Porsche has struggled with soft demand in China, where sales fell about 26 percent in the first nine months of the year.
Porsche and Volkswagen face parallel transitions
The automaker also reversed direction on its electric vehicle strategy, registering a €1.8 billion write-down tied to the cancellation of a planned electric SUV. Company insiders say the supervisory board’s decision to begin talks reflects a concern that governance and executive focus would benefit from separation of leadership between Porsche and VW. Blume’s early exit from the Porsche role leaves him free to maintain leadership of Volkswagen amid sweeping changes.
At the same time, Porsche enters a leadership change at a time of financial strain, shifting markets and strategic reassessment of its electric and combustion portfolios. The Oct. 24 board meeting is likely to formalize the successor and schedule the transition. In the interim, Porsche and VW will continue their operations under Blume’s dual oversight. – By EuroWire News Desk