Volkswagen and Porsche shareholders urge CEO to cease dual leadership role

May 21, 2025

Volkswagen and Porsche shareholders have reiterated criticisms of the automakers’ corporate governance, urging the CEO to step down from one of his dual leadership roles.

At Volkswagen’s AGM, shareholders called for increased board independence and voiced rising concern over the influence of the company’s controlling families.

Several investors criticised CEO Oliver Blume’s dual role as head of both Volkswagen and Porsche. This has been a contentious issue since Porsche listed as a separate company in September 2022.

Investors urged Blume to give up one of his board positions, warning that conflicts of interest within the company’s governance structure were “highly problematic.” They warned these issues were severely damaging the company’s reputation and causing substantial financial losses.

However, after cautioning that it expects to reach the lower end of its annual profit margin forecast last month, Volkswagen dismissed claims that poor governance is behind its weak share price.

Instead, it pointed to challenges across its main markets, including steep tariffs in the US, heightened competition in China and high costs in Europe.

Blume also cited a recent reshuffle of four key leadership roles at Porsche to justify his continued dual leadership of both automakers. He noted that the manufacturer of one Porsche model is replacing its chief financial officer and head of sales this year, while appointing new chiefs of procurement and personnel.

However, investors continued to argue that the board’s lack of expertise in crucial areas such as electrification and digitalisation was hindering the carmaker’s progress. Porsche's investors raised the same concerns and demands at their AGM this week.

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