Porsche appoints former McLaren CEO as new Chief Executive Officer.
Amidst a strategic electric vehicle crisis and declining sales, Porsche has placed its trust in Michael Leiters, former head of Ferrari and McLaren, to steer the brand.
Porsche has officially announced the appointment of Michael Leiters, former Chief Technology Officer of Ferrari and CEO of McLaren, as its new CEO. This decision comes as the German sports car manufacturer faces significant challenges, from a disappointing electrification strategy to declining sales in key markets.
Mr. Leiters, a 54-year-old German engineer, will officially take office on January 1, 2026, replacing Mr. Oliver Blume. Meanwhile, Mr. Blume will continue to hold the position of CEO of the Volkswagen Group with a contract extended until the end of 2030, allowing him to focus entirely on running the parent company.
The new captain's impressive resume.
Michael Leiters is no stranger to the high-performance automotive industry. Prior to his appointment at Porsche, he served as CEO of McLaren from July 2022 to April 2025. During his tenure, he contributed to resolving software issues, reorienting design, and stabilizing sales for the British brand.
His career is particularly intertwined with hybrid technology. As Chief Technology Officer (CTO) at Ferrari for over eight years, Leiters led the development of the brand's first and most 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 burden on the shoulders of the successor.
Leiters' appointment comes at a time when Porsche is in crisis. The company has had to lower its financial outlook four times this year and has admitted that its strategy of over-reliance on electric vehicles has not yielded the expected results. Reversing this strategy is expected to cost around €1.8 billion, and Porsche warns that profit margins could fall to just 2% by 2025.
In addition, sales in the crucial Chinese market are declining, coupled with the negative impact of high import tariffs in the US. The new CEO's task will be to restructure the product portfolio, negotiate cost-cutting measures with labor unions, and most importantly, restore investor confidence.
Strategic repositioning and future expectations
Under pressure from the market, Porsche announced a new strategy, returning to prioritizing internal combustion and hybrid engines, while delaying plans to launch several all-electric models. This shift required a leader with deep experience in both traditional and electrification technologies, a criterion that Mr. Leiters fully met.
Wolfgang Porsche, the company's chairman, affirmed that Leiters is "the ideal candidate to lead the company through its current challenges." However, analysts also expressed caution. Former Aston Martin CEO Andy Palmer described Leiters' new role as "a high-risk position" and said he would face a "storm."
With a solid technical background and crisis management experience at major brands, Michael Leiters is expected to steer Porsche through this challenging period. However, core issues, from product strategy to market strategy, still need to be thoroughly addressed, and this will be the biggest test of the new CEO's capabilities.
