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flag Porsche names Michael Leiters as next CEO, replacing Oliver Blume amid declining sales and EV challenges.

flag Porsche is set to appoint Michael Leiters, former McLaren CEO and former Porsche engineer, as its next CEO, succeeding Oliver Blume, who is stepping down after leading both Porsche and the Volkswagen Group. flag Blume’s dual role drew criticism over workload and conflicts of interest, especially as Porsche faces declining sales, weak EV demand, and rising competition in China. flag The company has paused its electric vehicle transition, extended combustion engine production, cut 1,900 jobs, and saw its stock fall sharply, leading to its exit from Germany’s DAX index. flag Leiters, known for his work on high-performance models at Ferrari and McLaren, is expected to bring a cautious approach to electrification. flag The supervisory board is expected to approve the leadership change soon, with the transition set for 2026.

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