Overview
- Vera Schalwig and Joachim Scharnagl will join Porsche's executive board in August, succeeding Andreas Haffner and Barbara Frenkel in personnel and procurement roles respectively.
- Michael Steiner is set to return from Volkswagen on July 1 as Porsche's deputy chairman, stepping down from his development chief role at VW.
- Oliver Blume remains CEO of both Porsche and Volkswagen, with no announced timeline for resolving his dual leadership roles.
- Porsche reported a 40.6% drop in Q1 2025 operating profit, driven by declining sales in China, rising battery costs, and U.S. import duties.
- The company is pursuing cost-cutting measures, including a 1,900-job reduction plan, while recalibrating its focus toward internal-combustion and hybrid vehicles.