Porsche has appointed Michael Leiters as its new CEO, effective January 1, 2026. He succeeds Oliver Blume, who is stepping down after a decade to focus solely on his role as CEO of the Volkswagen Group. The leadership change comes as Porsche faces significant challenges, including a 66.6% drop in net profit and a 27.9% sales decline in China during the first half of 2025. Leiters, former CEO of McLaren and ex-CTO of Ferrari, brings extensive sports car expertise to the role. This move follows Porsche’s recent shift to refocus on combustion engine and hybrid vehicles.