Porsche names former McLaren CEO as new boss

Michael Leiters will take over as CEO of Porsche on January 1, 2026, replacing Oliver Blume, who will continue in his role as the CEO of the Volkswagen Group.

Mr Leiters was CEO of McLaren Automotive from mid-2022. He was replaced in April this year when Abu Dhabi’s ‘advanced mobility’ investment company bought the British supercar maker from Bahrain’s sovereign wealth fund.

Before hopping across the Channel, he was chief financial officer for Ferrari for eight years. Mr Leiters is no stranger to Porsche, working for the firm between 2000 and 2013.

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His roles during his first Porsche stint include executive assistant to the CEO, project managing the Cayenne Hybrid and, later, looking after the Cayenne and Macan ranges.

He has an engineering diploma from RWTH Aachen University.

The new year will mark the end of Mr Blume’s tenure as Porsche CEO, which began in 2015. During that time he unveiled the brand’s first electric car, the Taycan (in 2019, then devised a plan to make all of its models except for the 911 electric.

The Macan EV was launched in 2024, and the Cayenne EV will make its debut later this year. With the growth of electric vehicle sales not matching the expectations of many manufacturers, Porsche’s once industry-leading profit margins have shrunk dramatically.

This has forced the German automaker to rejig its product plan, includes fast tracking a new petrol-powered SUV to sit alongside the EV-only Macan, cancelling its three-row electric SUV flagship in favour of a new petrol model, and adding top-end petrol engine options to the previously EV-only next-generation 718 Boxster and Cayman.

In 2022, Mr Blume was chosen to lead the Volkswagen Group after Herbert Diess was deposed from the top job. Despite overseeing an automotive conglomerate that also includes the Porsche, Audi, Volkswagen, Skoda, Seat/Cupra, Bentley, Scout and Lamborghini brands, he continued on as Porsche CEO.

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