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Oliver Blume

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VW Reels In Costs: 100,000 Jobs Cut Plan and Ducati Sale To Avert Boardroom Showdown
business1 month ago

VW Reels In Costs: 100,000 Jobs Cut Plan and Ducati Sale To Avert Boardroom Showdown

Volkswagen’s supervisory board unanimously backedCEO Oliver Blume’s plan to cut roughly 47,000 jobs (about 5,000 of them management) and trim plants as part of a broader consolidation, with Ducati on the block and a push to streamline brands and reallocate capital to high-return models. The agreement, which includes concessions and avoids the feared “nuclear option” of a general shareholder vote, aims to reduce excess capacity and boost margins while letting time and negotiations with unions and state interests shape the next steps.

via The Autopian|
#business#corporate-strategy#ducati
VW seals 50,000-job cut, but governance questions linger
business1 month ago

VW seals 50,000-job cut, but governance questions linger

Volkswagen’s supervisory board unanimously backed a sweeping restructuring led by CEO Oliver Blume to slim the group with about 50,000 job cuts and a roughly 25% reduction in production capacity to 9 million vehicles, while opening the door to ending new vehicle production at four German plants. The plan, which could also involve splitting the core VW brand from its components, tests a governance model long dominated by workers, politicians and family owners, and while it sent shares higher, long‑term governance changes remain unresolved and some analysts warn further plant decisions could follow.

via ft.com|
#business#governance#job-cuts
VW workers blast management over 'disastrous' messaging as job-cut plan looms
business1 month ago

VW workers blast management over 'disastrous' messaging as job-cut plan looms

Volkswagen workers criticized management’s communication as the carmaker weighs deeper cost cuts and up to 100,000 total job losses (about 50,000 already planned); a works council morale survey found intranet messaging to be the top grievance ahead of job security, as CEO Oliver Blume and the board prepare nine site meetings across Wolfsburg, Emden, Zwickau, Braunschweig and Hannover amid weaker first-half results and intensified global headwinds.

via Euronews.com|
#business#job-cuts#oliver-blume
Global Chip Shortage Sparks Industry Concerns and Production Risks
business11 months ago

Global Chip Shortage Sparks Industry Concerns and Production Risks

Volkswagen's CEO Oliver Blume announced that the company currently has enough chip supply, despite ongoing global shortages and a Chinese export ban on finished products from Nexperia, which affects European automakers. Blume emphasized the fragility of the current chip crisis and called for a swift political solution. Meanwhile, Porsche faces significant challenges with declining sales in China and U.S. tariffs, leading to a substantial third-quarter loss, but expects a positive trend from 2026. Blume also plans to step down as Porsche CEO in 2026, with Michael Leiters as his successor.

via Reuters|
#business#china-export-ban#chip-supply
Porsche Considers Ex-McLaren Executive Leiters as New CEO
business11 months ago

Porsche Considers Ex-McLaren Executive Leiters as New CEO

Oliver Blume is stepping down as CEO of Porsche but will remain at Volkswagen, amid criticism over his dual role which was seen as a conflict of interest. His leadership at Porsche was marked by record profits and a successful IPO, but the German auto industry faces challenges from Chinese competitors and internal struggles at Volkswagen. Michael Leiters is expected to succeed Blume at Porsche.

via DW|
#business#ceo-resignation#german-auto-industry