VW: Blume to step down from Porsche post in 2026, Leiters to take over

Initially, the German publications Der Spiegel and Bild reported, citing insider sources, that the manager would step down as CEO of Porsche in 2026. The supervisory board had already agreed on a successor, though the name was not mentioned in the reports. The individual was said to be technically proficient and experienced within the Volkswagen Group.Shortly after, Porsche confirmed that Michael Leiters could be the next CEO. Negotiations with him are set to begin, the company announced on Friday. “Today, the Executive Committee of the Supervisory Board of Dr. Ing. h.c. F. Porsche Aktiengesellschaft (“Porsche”) authorized the Chairman of the Supervisory Board to enter into discussions with Dr. Oliver Blume, Chairman of the Executive Board, in relation to a mutually agreed early termination of his appointment as member of the Executive Board of Porsche,” the statement said. “Dr. Michael Leiters, former Chief Executive Officer of McLaren Automotive Limited, is available as a potential successor as Chairman of the Executive Board. Negotiations with Dr. Leiters will be initiated. Dr. Blume would continue to serve as the Chairman of the Executive Board of Volkswagen AG.”Leters worked for Porsche from 2000 to 2013, serving as assistant to the CEO, project manager for the Cayenne, and most recently as product line director. From 2014, he spent over eight years at Ferrari as CTO, driving the development of sports cars – including the upcoming electric Ferrari. In mid-2022, he became CEO at McLaren Automotive but left the British manufacturer in April this year. McLaren had fallen into crisis during the coronavirus pandemic, even laying off 1,000 employees at one point, but under Leiters, the company stabilised.Reports of the succession circulated in the summer, suggesting an appointment in autumn, which now appears to be confirmed. The planned transition at the start of 2026 aligns with these reports. Blume has led Porsche for ten years and has also headed the VW Group since 2022, taking over from Herbert Diess in September 2022. Blume has stated several times that the dual role is “not intended to last forever,” although he recently defended it, saying the arrangement had been deliberately chosen and brought significant advantages during the group’s restructuring.With the impending leadership change, the major restructuring of the Porsche Executive Board would continue and possibly come to an end for the time being. In February, the German carmaker parted ways with Chief Financial Officer Lutz Meschke and Chief Sales Officer Detlev von Platen. Jochen Breckner assumed responsibility for finance and IT, while Matthias Becker took over sales and marketing. Both were internal succession solutions. With Leiters, a manager who has not been with Porsche or the VW Group for over a decade, is now likely to take the reins in Zuffenhausen.finanzen.at (Ad-hoc announcement by Porsche), spiegel.de, bild.de, linkedin.com (Michael Leiters)This article was first published by Sebastian Schaal for electrive’s German edition

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