Porsche appoints Oliver Blume as new CEO

Sports car manufacturer Porsche has appointed production chief Oliver Blume as its new chief executive officer with effect from 1 October, succeeding Matthias Mueller.

It emerged last week that Mueller would replace Martin Winterkorn as CEO of parent company Volkswagen in the wake of the emissions scandal.

Blume, 47, kicked off his career as a trainee at Audi AG and has held posts at Volkswagen and its subsidiary Seat.

Porsche also said on Wednesday that chief financial officer Lutz Meschke will become deputy CEO, while North American chief Detlev von Platen has been appointed to the board, responsible for sales and marketing.