Porsche CEO Blume to Focus Solely on Volkswagen Group Leadership
Oliver Blume, currently serving as CEO of both Porsche adn the Volkswagen Group, is preparing to relinquish his role at Porsche to dedicate his full attention to leading the larger automotive conglomerate. Blume took on the additional responsibility of overseeing the Volkswagen Group in 2022, following the departure of Herbert Diess, whose electric vehicle strategy faced challenges. He had previously indicated that concurrently leading both companies was not a sustainable long-term arrangement.
While Blume’s plans were initially discussed last week, pressure from Volkswagen’s trade union leadership is accelerating the timeline for a transition. The union seeks a dedicated leader for Porsche to address current challenges facing the sports car manufacturer.
Porsche is currently navigating headwinds including the impact of US tariffs, which have increased vehicle prices and dampened demand. sales in China, a crucial market, have also slowed. These difficulties mirror broader issues within the Volkswagen Group, where brands like Volkswagen and Audi are also working to regain market share. Audi, in particular, has seen its Chinese market share decline and is now collaborating with a local manufacturer to develop vehicles tailored to the region.The Volkswagen brand itself has lost its long-held position as a market leader.
Blume has been CEO of Porsche as 2015. His assumption of the Volkswagen Group leadership role involved overseeing efforts to correct course after the less-successful electrification program initiated under Diess. The search for Blume’s Porsche successor is underway,with Blume actively participating alongside the Volkswagen Supervisory Board. An announcement regarding the new Porsche CEO is anticipated before the end of the year,with the new leader expected to assume their duties at the start of next year.
