Porsche launches CEO hunt to end Oliver Blume' dual role

Porsche AG has officially begun its search for a new chief executive to replace Oliver Blume, signaling the imminent end of his controversial dual leadership of both the luxury car brand and parent company Volkswagen Group.

The move follows intense investor criticism over corporate governance concerns since Porsche's landmark 2022 stock market listing, with shareholders repeatedly demanding Blume relinquish one of his twin CEO roles.

"We will see how we get on this year," Blume expressed earlier this month regarding his future, though he acknowledged the dual position was never intended as a permanent arrangement.

“Company insiders and financial sources confirm talks are progressing toward an autumn appointment decision, with both internal and external candidates under serious consideration for the prestigious role,” Reuters reported.

Luxury sports car manufacturer shares immediately gained 1.1% after this news, reflecting market approval of the leadership separation that addresses long-standing governance issues affecting the automaker's valuation.

Analyst Pal Skirta of Metzler Equities endorsed the move, stating: "Such a move would alleviate corporate governance concerns."

The key transition comes during challenging times for Porsche, which faces weak Chinese demand for its sports cars, a sluggish electric vehicle transition, and damaging U.S. tariffs that recently forced a reduction in annual profitability targets.

Despite these headwinds, the automaker and Piech families maintaining control through Porsche SE expressed continued support for Blume during their annual general meeting in May 2025.