Published by Global Banking & Finance Review®
Posted on March 7, 2025
1 min readLast updated: January 25, 2026
Add as preferred source on GoogleOliver Blume, CEO of Porsche and Volkswagen, maintains dual roles to manage ongoing restructuring. The position is temporary, addressing financial challenges and market competition.
FRANKFURT (Reuters) - Volkswagen and Porsche CEO Oliver Blume said his dual role at the helm of both companies was not meant to last forever but was necessary to complete the restructuring underway at the brand and wider group, WirtschaftsWoche magazine reported on Friday.
Porsche replaced its CFO and sales chief late last month, after both came under heavy criticism for the company's poor performance and weak share price.
Its parent group Volkswagen is also in the midst of a restructuring and cost-cutting drive to streamline its finances in the face of cheaper rivals encroaching on Europe from China.
Blume only intends to keep his role as head of both companies, which some investors have criticised ever since Porsche listed on the stock market in September 2022, until both processes are complete, WirtschaftsWoche reported.
"My dual role is important for the tasks at hand but not designed to last forever," he said.
(Reporting by Ludwig Burger, Victoria Waldersee; Editing by Himani Sarkar and Miranda Murray)
Oliver Blume stated that his dual role is necessary to complete the ongoing restructuring processes at both Porsche and Volkswagen.
Porsche replaced its CFO and sales chief late last month due to criticism over the company's poor performance and weak share price.
Volkswagen is undergoing a restructuring and cost-cutting drive to streamline its finances amid competition from cheaper rivals entering Europe from China.
Porsche listed on the stock market in September 2022, which has led to criticism regarding Blume's dual role since then.
Blume intends to keep his dual role until the restructuring processes at both companies are complete, but he acknowledges that it is not meant to last forever.
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