Porsche names Oliver Blume new CEO

 The Porsche logo is seen on the hood of a sports car. Volkswagen's Porsche business said its supervisory board has named Oliver Blume as its new chief executive.
The Porsche logo is seen on the hood of a sports car. Volkswagen's Porsche business said its supervisory board has named Oliver Blume as its new chief executive.PHOTO: REUTERS

FRANKFURT (REUTERS, AFP) - Volkswagen's Porsche business said its supervisory board has named Oliver Blume as its new chief executive, replacing Matthias Mueller, who has taken the helm at its parent company.

Porsche production chief Mr Blume, 47, will start his new job on Oct. 1, Porsche said in a statement on Wednesday.

Mr Blume was previously the board member in charge of production and logistics.

Supervisory board chief Wolfgang Porsche said he was "particularly pleased" that Blume and Detlev von Platen, who was also appointed Wednesday to take charge of sales and marketing, were both company insiders.

"Porsche doesn't only have a highly motivated workforce, but also a very large number of qualified top managers," Porsche said.

Mr Blume, born in Brunswick in northern Germany, in 1968, studied mechanical engineering and joined VW's upmarket Audi brand in 1994 as a trainee. Since then, he also worked at VW's Spanish unit SEAT and was head of production planning for the VW brand in 2009 before being appointed

Porsche board member in 2013. His predecessor Mr Mueller, 62, headed Porsche for five years before he was named new CEO of the entire VW group last Friday, taking over from Martin Winterkorn who resigned in the wake of the global pollution-cheating scandal.

Board chief Mr Porsche praised Mr Mueller, saying the sports car maker had "practically doubled unit sales, turnover and the number of employees" under his reign.