Porsche's CEO steps down
Blumne is out and in steps ex-McLaren CEO to try to steer Porsche in the right direction going forward.
Since January 2022, the share value of German sports car maker Porsche has been halved and sales have really plummeted, especially in the last two years. In an attempt to stop the bleeding, it has now been decided that CEO Oliver Blume (who is also CEO of Volkswagen, which of course may have had something to do with the fact that he simply did not have time for Porsche, which seems to be a bit of the case, bizarrely enough) must step down and that a new CEO be thrown in. Michael Leiters most recently comes from the CEO role of McLaren and will now steer the ship on the right path, again, one hopes.
Dr. Wolfgang Porsche:
"Dr. Michael Leiters has decades of experience in the automotive industry. His leadership style and in-depth expertise are ideal prerequisites for successfully chairing the Executive Board of Porsche AG. He and the entire Executive Board team at Porsche AG enjoy the confidence of the Supervisory Board in overcoming the current challenges."
