Porsche and Volkswagen deserve full-time drivers at the wheel

WHEN Oliver Blume accepted the role of chief executive officer of Volkswagen (VW) Group in 2022, he did so on condition he retain his previous gig running Porsche, which he’s held since 2015. It looks increasingly like one job too many.

Porsche is VW’s most valuable asset and, at the time of Blume’s promotion, the 911 manufacturer was preparing to go public. He is now CEO of both DAX-listed companies, devoting roughly half his time to each – an unusual arrangement that echoes how Carlos Ghosn once ran Renault and Nissan Motor simultaneously, and how Elon Musk currently leads Tesla and SpaceX.

I don’t doubt Blume’s capability as a manager, and I acknowledge that transforming VW will take time. But dividing his attention is becoming harder to justify; both groups face huge challenges and are underperforming peers.