Volkswagen boss Blume looks to give up dual role as Porsche CEO, WiWo magazine reports

BERLIN (Reuters) -Oliver Blume is looking to step down from his CEO position at Porsche AG to focus on his role as head of Volkswagen, German business magazine WirtschaftsWoche reported Wednesday, citing several high-ranking company sources.

Blume's dual role as head of both Volkswagen and Porsche AG has been a contentious issue among shareholders since Porsche's listing as a separate company in September 2022.

Volkswagen did not immediately respond to a request for comment.

The search for a successor is currently underway, and talks are taking place between Blume, Volkswagen's supervisory board chairman, the works council and representatives of the Porsche and Piech families, according to WirtschaftsWoche.

The Porsche and Piech families effectively control Volkswagen through their holding firm Porsche SE, which holds most of the voting rights in the Wolfsburg-based carmaker.

The appointment is expected to be announced in autumn and implemented by early 2026, the magazine reported, with both internal and external candidates being considered for the role.

Blume has repeatedly stated that the dual role was not designed to last forever but left the end date open.

(Reporting by Christina Amann; Writing by Miranda Murray; Editing by Christian Schmollinger)