Former McLaren CEO Moves to Porsche Amidst Financial Challenges
Michael Leiters, the ex-CEO of McLaren, is set to become the new CEO of Porsche, replacing Oliver Blume.
Leiters previously worked at Ferrari as Chief Technical Officer and first joined Porsche in 2000. His return to Porsche comes amidst the company's financial difficulties due to decreased sales of electric vehicles in China and US tariffs introduced by President Trump's administration.
Current CEO Blume has faced increasing pressure and criticism from investors for holding both the CEO position at Porsche and Volkswagen Group, which they deem too great a responsibility for one person.
Leiters will be replacing Oliver Blume as CEO of Porsche.
Author's summary: Leiters to replace Blume as Porsche CEO.
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