Porsche Looking For A New CEO?

Since he was appointed head of Volkswagen in 2022, Oliver Blume has chosen to remain as CEO of Porsche. Unlike other executives who abandon their original role. A choice, initially presented as transitional, which quickly attracted criticism. And the “transitional” has become permanent. Except that, as Automobilwoche already pointed out in early 2025, “the rules of corporate governance are not respected due to the numerous interactions between the two companies.” In other words, it is not easy, not to say impossible, to properly manage two such heavy entities at a time when challenges are piling up between the electrification of Volkswagen and the still massive investments in thermal engines at Porsche.

Tensions are already visible internally

At Porsche, the shocks caused by this situation are nothing new. The departure of Lutz Meschke, Blume’s CFO and right-hand man, had already highlighted the fragility of the governance. Officially presented as a restructuring intended to “relaunch” Porsche in a delicate phase, this move also concealed power struggles. Behind the scenes, one question continued to be asked: how much longer could Oliver Blume hold this dual responsibility? In light of the latest information and rumors, it would seem that Blume’s dual role is coming to an end …

Porsche CEO Oliver Blume

Who will succeed?

According to Reuters, Porsche has reportedly begun a search for a successor. A process that is taking some time, since the magazine WirtschaftsWoche suggests a possible appointment as early as this fall, with discussions being held with both internal and external candidates. Among the names already mentioned are Michael Steiner, head of R&D and already Blume’s deputy; Frank-Steffen Walliser, who works at Bentley; Klaus Zellmer from Škoda; and Stefan Weckbach, strategist at Volkswagen. This clarification of roles would meet the expectations of investors, worried about seeing Blume busy, spread between Wolfsburg and Stuttgart at a time when Porsche is going through a turbulent period: a sharp drop in sales in China, a slower-than-expected electric transition, internal combustion engines that could last longer than expected, and new US surcharges.

A signal sent to the markets

The news, even if still hypothetical, was welcomed on the stock market: Porsche shares jumped by nearly 1% in the afternoon of August 27, following the announcement. Proof, if proof were needed, that the prospect of clearer, less dispersed governance reassures investors. It remains to be seen whether Oliver Blume, who has already been at the helm of Porsche since 2015, even before taking the top post at the Volkswagen group, will agree to relinquish the reins of a brand he has deeply marked to devote himself exclusively to the recovery of Volkswagen.

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