Porsche Has a New CEO

After months of internal pressure and mounting dissatisfaction from investors, Porsche has announced that it will replace CEO Oliver Blume. The company confirmed today, via an official statement from the Supervisory Board, that negotiations have begun for an early and mutually agreed termination of Blume's mandate as head of Porsche AG.

Michael Leiters, former CEO of McLaren Automotive and a former Porsche executive with 13 years at the company, is set to take the reins. He is widely seen as the ideal candidate to revitalize the Zuffenhausen-based brand.

The move comes at a critical time for Porsche. Once among the most profitable automakers, the company has recently become increasingly vulnerable to market instability. Weak demand in China, rising export tariffs to the US, and lingering uncertainty around the transition to electric vehicles have all taken a toll—most notably with the costly overhaul of its $2.1 billion (€1.8 billion) EV strategy.

A projected operating margin of just 2 percent for 2025 has raised red flags among shareholders, many of whom have long questioned Blume’s dual leadership role as CEO of both Porsche and the Volkswagen Group. Their 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, 54, is no stranger to Porsche. He spent 13 years at the company from 2000 until 2013, holding key roles in product development and overseeing projects such as the Cayenne—an SUV that redefined the brand’s trajectory by driving record sales and profits.

Following his tenure at Porsche, Leiters joined Ferrari as Chief Technology Officer, where he played a pivotal role in the brand’s technical evolution, spearheading the development of several landmark models and cutting-edge technologies.

In 2022, he became CEO of McLaren Automotive, where he led the launch of the 750S and helped launch the hybrid Artura after delays—two models aimed at revitalizing the struggling British marque.

Leiters brings a unique combination of deep familiarity with the Porsche brand, international experience, and strong technical credentials—qualities the Supervisory Board believes make him the right leader to restore Porsche’s stability and competitive edge on the global stage.

Negotiations are now officially underway. 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.