Porsche CEO Oliver Blume is preparing to step down from his role at the sports car maker to focus fully on his responsibilities as head of Volkswagen Group, German business daily Wirtschaftswoche reported on Wednesday, citing “several high-ranking insiders from the corporation, works council and financial circles.”
Blume, who has led Porsche for a decade, took over as chief executive of Volkswagen in September 2022 from Herbert Diess. He has repeatedly said that holding both posts was “not designed to last forever.” According to Wirtschaftswoche, he has now decided to relinquish his Porsche mandate to concentrate on steering Volkswagen.
The expected leadership change comes amid heightened criticism from investors over Blume’s dual role and Porsche’s weakening performance. Net profit at the carmaker dropped more than 71% in the first half of 2025 to 718 million euros, pressured by U.S. tariffs and a Chinese luxury tax on premium electric vehicles.
Discussions on a successor are already under way between Blume, Volkswagen Supervisory Board Chairman Hans Dieter Pötsch, representatives of the Porsche and Piëch families, and the works council, the report said. While an announcement was initially planned for September, insiders expect it to be communicated in the autumn and implemented by early 2026.
Wirtschaftswoche reported that differing views among stakeholders could complicate the search, with the Porsche and Piëch families, Blume, and the works council each backing different candidates. Both internal and external options are under review, and the families want a new CEO to signal to capital markets that Porsche’s restructuring “will be pursued with determination.”
The change would follow a series of management shifts at Porsche this year. In February, Jochen Breckner and Matthias Becker took over Finance and IT, and Sales and Marketing, respectively, after longtime executives Lutz Meschke and Detlev von Platen stepped down. The company has also launched a cost-cutting programme, announcing plans to reduce 1,900 jobs by 2030 after cutting 1,500 temporary positions last year.
At the same time, Porsche is reorganising its Cellforce battery subsidiary, eliminating up to 290 roles as it scales back ambitions to expand high-performance battery production. The company has said it will instead focus on cell and system development.