Porsche appoints former McLaren CEO as new CEO

Amid a crisis in its electric vehicle strategy and falling sales, Porsche has turned to former Ferrari and McLaren boss Michael Leiters to steer the brand.

Porsche has officially announced the appointment of Michael Leiters, former Ferrari technical director and McLaren CEO, as its new CEO. The decision comes amid serious challenges facing the German sports car company, from an unsatisfactory electrification strategy to a decline in key markets.

Mr. Leiters, a 54-year-old German engineer, will officially take office from January 1, 2026, replacing Mr. Oliver Blume. Meanwhile, Mr. Blume will continue to serve as CEO of the Volkswagen Group with a contract extended until the end of 2030, allowing him to fully focus on running the parent group.

Michael Leiters, former head of Ferrari and McLaren, will take over as CEO of Porsche from 2026.

The new captain's impressive resume

Michael Leiters is no stranger to the performance car industry. Prior to his appointment at Porsche, he served as CEO of McLaren from July 2022 to April 2025. During his tenure, he helped resolve software issues, reorient the design, and stabilize sales for the British brand.

His career has been particularly linked to hybrid technology. As Chief Technical Officer (CTO) at Ferrari for over eight years, Mr. Leiters led the development of the company’s first two iconic hybrid supercars, the Ferrari SF90 Stradale and the 296 GTB. Notably, he also worked at Porsche before 2013, where he played a key role in developing the hybrid version of the Porsche Cayenne.

The Ferrari 296 GTB is one of the high-performance hybrid cars developed under Mr. Leiters' direction.

The burden on the shoulders of the successor

Leiters’ appointment comes at a time of crisis for Porsche, which has cut its financial outlook four times this year and admitted its strategy of relying heavily on electric vehicles has not paid off. The reversal is expected to cost 1.8 billion euros, and Porsche has warned that profit margins could fall to just 2% by 2025.

In addition, sales in the important market of China are also declining, along with the negative impacts of high import tariffs in the US. The new CEO's task will be to restructure the product portfolio, negotiate cost cuts with unions and, most importantly, restore investor confidence.

Porsche is having to reshape its electric vehicle strategy, one of the biggest challenges for its new leadership.

Strategic repositioning and future expectations

Under pressure from the market, Porsche announced a new strategy, refocusing on internal combustion engines and hybrids, while delaying plans to launch some pure electric models. This change requires a leader with deep experience in both traditional and electrification technologies, a criterion that Mr. Leiters fully meets.

Chairman Wolfgang Porsche said Leiters was “the ideal candidate to lead the company through the current challenges.” However, analysts were cautious. Former Aston Martin CEO Andy Palmer said Leiters’ new role was “a risky one” and he would face a “storm.”

Oliver Blume will focus on his role as CEO of the Volkswagen Group after leaving the leadership of Porsche.

With a solid technical background and experience in handling crises at major brands, Mr. Michael Leiters is expected to be the one to steer Porsche through this difficult period. However, core issues from product strategy to market still need to be thoroughly resolved, and this will be the biggest test for the new CEO's ability.

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Source: https://baonghean.vn/porsche-bo-nhiem-cuu-ceo-mclaren-lam-tan-giam-doc-dieu-hanh-10308521.html