Porsche in Talks With Ex-McLaren Boss Leiters for CEO Role (1)

Porsche AG is in talks with Michael Leiters, the former head of McLaren Automotive Ltd., to take over as chief executive officer and turn around the struggling 911 maker.

The manufacturer has been preparing to find a successor for Oliver Blume, who runs both Porsche and Volkswagen AG. Blume will continue to lead Europe’s biggest carmaker, Porsche said Friday.

Porsche shares rose as much as 2.6% on the announcement before paring gains. The stock has halved since its listing in September 2022.

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