FRUSTRATED PORSCHE INVESTORS CALL FOR CEO BLUME TO DROP DUAL PORSCHE-VW ROLE
- NEWS Desk Global
- 1 hour ago
- 1 min read
Investors called upon Porsche CEO Oliver Blume, who also heads parent company Volkswagen, to drop one of his roles on Wednesday as weakness in China and tariff-related challenges in the United States have forced the sportscar maker to cut its outlook.
Last month, Porsche said its margins had plunged in the first quarter and gave a more sombre forecast for the year due to a 42% drop in sales in China in the first three months of 2025, a slowing shift to electric cars and U.S. tariffs.