Reported 2 days ago
Frustrated Porsche investors are urging CEO Oliver Blume to step down from his dual role as head of Porsche and Volkswagen, following a significant drop in sales, particularly a 42% decrease in China. At the recent annual shareholders meeting, concerns were raised about the viability of having one person manage both companies, as it is believed to negatively impact Porsche's stock value. Investors are calling for immediate action to navigate the challenges posed by retail performance in key markets like China and the U.S.
Source: YAHOO