Core Points - Porsche announced a significant leadership change with CEO Oliver Blume stepping down after ten years, to be succeeded by Michael Leiters, former CEO of McLaren, effective January 1, 2026 [4][19]. - The decision for this leadership transition was influenced by pressure from German unions and shareholders, who expressed concerns about Blume's ability to manage both Porsche and its parent company, Volkswagen Group, simultaneously [6][17]. Group 1: Leadership Change - Oliver Blume, who has been a frequent visitor to China and has held dual roles as CEO of both Porsche and Volkswagen Group, is stepping down due to concerns about his divided attention [3][7]. - Michael Leiters, the new CEO, has extensive experience within Porsche and has previously held significant positions at Ferrari and McLaren, indicating a strong background in luxury automotive management [21]. Group 2: Company Performance - Under Blume's leadership, Porsche achieved record sales and profitability, with 2015 global deliveries reaching 225,000 units, a year-on-year increase of 18.6%, and an operating profit of approximately €3.4 billion [12][14]. - However, recent performance has declined, with global deliveries in the first three quarters of 2023 totaling 212,509 units, a decrease of 6% year-on-year, and significant drops in key markets like China, where sales fell by 26% [23][24]. Group 3: Strategic Challenges - The company faces challenges in accelerating its electric vehicle transition, with electric models accounting for 35.2% of deliveries in the first three quarters of 2023, up 12.8 percentage points year-on-year [24]. - Financially, Porsche reported a revenue of €18.16 billion (approximately ¥150.2 billion) in the first half of 2023, down 6.7% year-on-year, with operating profit plummeting by 67.1% to €1.01 billion (approximately ¥8.35 billion) [24]. Group 4: Future Plans - Porsche aims to reclaim its position in the high-performance segment, with plans to launch a new model, the Panamera Turbo GT, designed to compete for the title of the fastest four-door car [27][30].