As Volkswagen's woes trundle on, Porsche names new chief executive

Emma Haslett
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Blume has overseen a €1.1bn investment in new manufacturing facilities (Source: Getty)

Porsche - whose chief executive Matthias Mueller sped off to Volkswagen last week to cope with its ongoing emissions scandal - has wasted no time in installing a new leader behind the wheel: the company named Oliver Blume, a member of its executive board for production and logistics, as new chief executive.

Blume has previously been involved in expanding Porsche's operations, overseeing a €1.1bn investment in new manufacturing facilities.

Wolfgang Porsche, the company's chairman, said Blume's appointment had come at "an exciting time" (understatement of the year?), adding that the company had found "the best possible successor for Mueller considering his exceptionally high professional competence and pronounced teamwork skills".

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