BERLIN (Reuters) -Porsche’s supervisory board has agreed on a successor for CEO Oliver Blume, Bild reported on Friday, citing six unnamed sources.
Blume has led the Stuttgart-based sports car manufacturer since October 2015. He took on the additional role of Volkswagen CEO in September 2022.
Investor anger at Porsche’s dismal performance, particularly in China, has mounted pressure on Blume to relinquish his role at the luxury carmaker.
The supervisory board is expected to vote on the appointment soon, according to the report.
Porsche and Volkswagen did not immediately respond to Reuters requests for comment.
The carmaker’s China sales plunged 26% in the first three quarters of this year compared with the same period in 2024, as Chinese consumers rejected Porsche’s electric vehicles in favor of sporty alternatives from local automakers like BYD and Xiaomi.
(Writing by Friederike Heine; Editing by Jamie Freed, Kirsti Knolle)
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