Business

Mate Rimac Becomes Bugatti President Following Porsche’s Exit

Published

2 months ago

September 10, 2026

Mate Rimac Becomes Bugatti President Following Porsche’s Exit

Bugatti Joins Forces With Rimac, Creates A New Automaker, 'Bugatti Rimac' - autojosh

Porsche has completed its historic exit from Bugatti Rimac and the Rimac Group, selling its entire stake to an investor consortium and cutting Bugatti’s remaining ties with the Volkswagen Group in a massive deal finalized on September 9, 2026.

Following the buyout—which saw Porsche rake in €1 billion ($1.16 billion) from its 45% stake in Bugatti Rimac and 20.6% stake in Rimac Group—longtime executive Christophe Piochon will step down as President of Bugatti Automobiles and Chief Operating Officer (COO) of Bugatti Rimac.

The corporate restructuring will see Mate Rimac, the current CEO of Bugatti Rimac, take over the additional role of President of Bugatti Automobiles. Meanwhile, Marko Brkljačić—former Chief Operating Officer at Rimac Technology—will join the Bugatti Rimac leadership team as the new Chief Operating Officer.

Mate Rimac Becomes Bugatti President Following Porsche’s Exit

“I am really looking forward to our collaboration with HOF Capital, who will be a great asset in executing our long-term vision for the exciting future of Bugatti,” said Mate Rimac, CEO of Bugatti Rimac, regarding the newly formed partnership.

Under this new corporate structure, the Rimac Group maintains its 55% majority ownership. The remaining 45% stake previously held by Porsche is now controlled by an international investor group led by HOF Capital and BlueFive Capital.

Freed from Volkswagen’s corporate red tape, Mate Rimac now holds majority control over the historic French hypercar manufacturer. The move will help consolidate his operational long-term vision for Bugatti—a journey he first started when he was appointed Bugatti Rimac CEO in 2021.

For Porsche, offloading its hypercar stakes in the joint venture allows the German luxury brand to reallocate vital capital directly to its core lineup. The move effectively steadies the ship amid a slumping Chinese market and major bottlenecks in the broader European electric vehicle transition.