Porsche AG has announced that a new CEO will take over the company in January 2026, replacing current CEO Oliver Blume. Dr Michael Leiters (54) – a German by origin – was most recently CEO of McLaren Automotive, a role he begun in July 2022. Previous to that he was the Chief Technology Officer at Ferrari, from 2014 to 2022. Interestingly Leiters was at Porsche before the other two competitors, serving in various roles between 2000 and 2013.
Dr Leiters will take over a limping Porsche that has seen sales and profits decline over the past three years, thanks mainly to a soft China market, Trump tariffs and a general slowdown in global automotive sales. As such, the company is scheduled to lay off 1 900 workers over the next few years. In contrast, the Mzansi operation – led by Toby Venter – has been steady, even thriving in some respects, averaging around 100 unit sales per month.
“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,” said Dr Wolfgang Porsche, chairman of Porsche AG.
Dr Blume has been in a dual role for the past 10 years, holding the reigns as both Volkswagen Group CEO and Porsche AG CEO. He will remain in his former role, while simultaneously overseeing the recovery of Porsche under Leiters.
