Ex-McLaren CEO Leiters named new Porsche boss

Former McLaren CEO Michael Leiters has been named the new boss of Porsche as Volkswagen Group boss Oliver Blume gives up his dual role. Leiters, who will begin the role on 1 January, left McLaren earlier this year after a three-year tenure as CEO, following the British firm's merger with EV start-up Forseven, which saw Nick Collins installed as CEO of the wider McLaren Group Holdings enterprise. Porsche chairman Wolfgang Porsche said Leiters's "leadership style and in-depth expertise are ideal prerequisites for successfully chairing" the sports car brand. He will take over from Blume, who will step back from leading Porsche to focus on his other role, which VW has confirmed he will continue in until at least 2030 following the signing of a new contract. The move follows mounting pressure over the 57-year-old German’s dual leadership position, with split responsibilities between the Volkswagen Group and Porsche for the past three years, drawing increasing scrutiny from investors and unions. Blume's tenure at Porsche spans nearly a decade. He succeeded Mathias Mueller in October 2015 before adding the Volkswagen Group CEO role to his responsibilities in September 2022. While he has consistently defended the arrangement, citing benefits from his deep involvement in Porsche's technical operations, critics have grown increasingly vocal. "The CEO in Wolfsburg cannot be a part-time chief and spend the rest of his time at Porsche. This situation must end," Volkswagen works council chief Daniela Cavallo told employee representatives recently. The leadership transition comes as both car companies face significant restructuring. Under Blume, the Volkswagen Group recently announced radical cost-cutting moves at its namesake Volkswagen brand, while continuing to invest heavily in new and upgraded electric models and global software development programmes. Porsche's global sales have faltered in recent times, with demand weakening in key markets following controversial decisions made under Blume to concentrate heavily on new electric model development while axing key models such as the combustion-engined Macan and 718 Boxster/Cayman. Wolfgang Porsche said that the board has "confidence" in Leiters "overcoming the current challenges". During his time in Woking, Leiters oversaw the launch of the firm's first hybrid supercar, the Artura, the replacement of the 720S with the 750S and the development of the flagship W1 hypercar. Prior to joining McLaren, Leiters was Ferrari's chief technical officer – a role in which he was heavily involved with the Purosangue SUV programme – and before that he was at Porsche, where he oversaw development of the Cayenne, which has long been one of the company's best-performing models.