Porsche names former McLaren CEO as new boss

Michael Leiters will take over as CEO of Porsche on January 1, 2026, changing Oliver Blume, who will proceed in his function because the CEO of the Volkswagen Group.

Mr Leiters was CEO of McLaren Automotive from mid-2022. He was changed in April this 12 months when Abu Dhabi’s “superior mobility” funding firm purchased the British supercar maker from Bahrain’s sovereign wealth fund.

Earlier than hopping throughout the Channel, he was chief monetary officer for Ferrari for eight years. Mr Leiters isn’t any stranger to Porsche, working for the agency between 2000 and 2013.

His roles throughout his first Porsche stint embody govt assistant to the CEO, venture managing the Cayenne Hybrid and, later, taking care of the Cayenne and Macan ranges.

He has an engineering diploma from RWTH Aachen College.

CarExpert can prevent 1000’s on a brand new automotive. Click on right here to get an incredible deal.

The brand new 12 months will mark the top of Oliver Blume’s tenure as Porsche CEO, which started in 2015. Throughout that point he unveiled the model’s first electrical automotive, the Taycan, in 2019 and devised a plan to make all of its fashions, aside from the 911, electrical.

The Macan EV was launched in 2024, and the Cayenne EV will make its debut later this 12 months. With the expansion of electrical automobile gross sales not matching the expectations of many producers,  Porsche’s as soon as class-leading revenue margins have shrunk dramatically.

This has compelled the model to rejig its product plan. This contains quick monitoring a brand new petrol-powered SUV to sit down alongside the EV-only Macan, cancelling its three-row electrical SUV in favour of a brand new petrol mannequin, and including top-end petrol engine choices to the beforehand EV-only next-generation 718 Boxster and Cayman.