Porsche AG confirmed on Friday that Michael Leiters will take over as chief executive officer from Oliver Blume starting January 1, 2026, while Blume will continue to lead the Volkswagen Group, with his contract extended until 2030.
The announcement follows reports earlier this week suggesting Blume’s withdrawal from Porsche and the identification of a successor. In a joint statement, Porsche said: “The Supervisory Board of Porsche AG has appointed Dr. Michael Leiters as CEO of Porsche AG, effective as of January 1, 2026. Dr. Oliver Blume, who has led Porsche AG as CEO for ten years, will continue to serve as CEO of Volkswagen Group.”
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Volkswagen also confirmed Blume’s dual role will end at the start of next year. “The Supervisory Board of Volkswagen Aktiengesellschaft resolved on Friday to conclude a new agreement with Mr. Blume for a term of five years, starting on 1 January 2026. This means Mr. Blume will continue as Volkswagen AG’s CEO until the end of 2030,” Volkswagen stated.
Hans Dieter Pötsch, chairman of Volkswagen’s supervisory board, added that Blume had “impressively demonstrated his ability to advance and develop the Volkswagen Group’s strategy and business operations in a challenging environment,” expressing confidence in his continued leadership.
Blume, who became Porsche CEO in 2015 after serving as head of production, oversaw a decade of growth, including record financial years, the IPO of Porsche AG, expansion into new markets, and motorsport achievements. Wolfgang Porsche, chairman of Porsche’s supervisory board, acknowledged Blume’s role, saying he “has taken great responsibility in challenging times and successfully managed the company. We look forward to continuing to work closely and trustingly with him as CEO of Volkswagen Group.”
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Porsche highlighted Blume’s role in preparing a generational change within the executive board and advancing the company’s electrification strategy, despite delays in EV rollouts and challenges from reliance on single-source components for some projects.
Blume commented on the transition: “After ten years of responsibility for Porsche AG, I have decided to hand over my duties to my successor at the end of the year in the interests of Volkswagen Group. I have had the privilege of developing a great company with a fantastic team. I am delighted that Michael Leiters, an experienced professional in the sports car business, is taking on this role. He and the new management team have my full confidence.”
Leiters, who spent 13 years at Porsche, later held senior roles at Ferrari and McLaren, including CEO of McLaren during a challenging period for the company. Wolfgang Porsche noted, “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.”
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