After months of internal pressure and increasing investor dissatisfaction, Porsche has announced it will replace CEO Oliver Blume. The company confirmed today through 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 former Porsche executive with 13 years of experience at the company, will take over. He is widely seen as the ideal candidate to revive the Zuffenhausen brand.
The move comes at a crucial time for Porsche. The company was once among the most profitable automakers and has recently become increasingly vulnerable to market instability. Weak demand in China, rising export tariffs to the US and continued uncertainty surrounding the transition to electric vehicles have all taken their toll – mainly due to the costly $2.1 billion (€1.8 billion) overhaul of the EV strategy.
An expected 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 is in dire need of committed, autonomous leadership.
Who is Michael Leiters?
Photo by: Porsche
Michael Leiters, 54, is no stranger to Porsche. From 2000 to 2013, he spent thirteen years at the company, where he played a key role in product development and oversaw projects such as the Cayenne, an SUV that redefined the brand’s direction by generating record sales and profits.
Following his tenure at Porsche, Leiters joined Ferrari as Chief Technology Officer, where he played a crucial role in the brand’s technical evolution and led the development of several groundbreaking models and advanced technologies.
In 2022, he became CEO of McLaren Automotive, where he oversaw the launch of the 750S and, after delays, helped launch the hybrid Artura – two models aimed at reviving the struggling British brand.
Leiters brings a unique combination of deep familiarity with the Porsche brand, international experience and strong technical references; qualities that, according to the Supervisory Board, make him the right leader to restore Porsche’s stability and competitive advantage on the world stage.
Negotiations are now officially underway. If an agreement is reached, Leiters will take control of Porsche, while Oliver Blume will remain as CEO of the Volkswagen Group. This formally separates the two roles and marks the beginning of a new chapter for both companies.
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