Porsche Finally Has A New CEO. He

• Oliver Blume has stepped down as Porsche CEO, but will remain the head of Volkswagen Group, Porsche’s owner.
• Michael Leiters will take Blume’s role next year, at a time when Porsche is facing significant headwinds.
• After lackluster EV sales, Porsche has reversed course and will focus more on hybrids.

Porsche is having a rough time these days. After acting as the de facto cash cow for the Volkswagen Group for many years, the German luxury sports car maker is facing sinking profits, slowing sales in China, the impact of U.S. tariffs and less demand for its EVs than expected. 

In fact, Porsche has had to press pause or delay some of its upcoming electric cars at a massive cost of $2.1 billion (€1.8 billion). Going forward, the company will invest more in hybrids, and that’s where its new CEO comes into play.

Michael Leiters will become the German automaker’s new CEO on Jan. 1, 2026, ending a decade-old era with Oliver Blume at the helm of one of the most recognizable nameplates in the world. But that had been a challenge for the conglomerate as of late: Blume had been pulling double-duty as the CEO of the entire Volkswagen Group, which he ascended to in 2022 after Herbert Diess was forced out amid a glut of software setbacks. Yet Blume keeping his Porsche job drew criticism from various industry voices, with one asset management firm rep describing him as a “part-time CEO.”

Now, though, it’s time for a familiar face at Porsche. Leiters, a doctoral engineer, began his 25-year automotive career at Porsche in 2000, where he first worked as a project manager. Fast-forward to 2006, and Leiters became the project manager for the first-ever Cayenne hybrid, which debuted in 2010. Then, he led the entire Cayenne project before becoming a product line director.

His stint at Porsche ended in 2013, according to his LinkedIn profile, but he wasn’t done with hybrids. In 2014, he became Ferrari’s chief technology officer (CTO), where he played an instrumental role in developing the brand’s first plug-in hybrid, the SF90 Stradale, followed by the 296 GTB. He also played a role in the early development of the Purosangue, the prancing horse’s first SUV.

After eight years at Ferrari, Michael Leiters headed to McLaren, where he became the British automaker’s CEO. As McLaren’s head honcho, the 54-year-old German engineer pushed ahead with electrification and tried to solve software issues, boost sales and make the best of the company’s manufacturing capacity. He’s credited with improving the build quality of McLaren’s cars, including fixing the Artura hybrid, but the company’s financial performance wasn’t fully turned around during his time.

Leiters left McLaren in April, after the legendary British sports car maker merged with an EV startup called Forseven.

Now, he’s in for a rollercoaster ride at Porsche. Seeing how the German marque placed a big bet on hybrids and plug-in hybrids for the short term, Leiters looks like the right man in the right place, but it won’t be easy.