Oliver Blume
| Personal details | |
| Born | Oliver Ingo Blume 1968/6/6 (age 57) 🇩🇪 Braunschweig, Germany |
| Nationality | 🇩🇪 German |
| Education | PhD Mechanical Engineering |
| Career details | |
| Occupation | CEO Volkswagen Group & Porsche AG |
| Compensation | €10.3 million (2024) |
| Net worth | ~$70 million (2024 est.) |
Oliver Ingo Blume (born 6 June 1968) is a German automotive executive serving simultaneously as CEO of Volkswagen Group (since September 2022) and CEO of Porsche AG (since October 2015), making him the only person to lead two DAX-listed companies concurrently. With compensation of €10.3 million in 2024, Blume became Germany's highest-paid manager and the first DAX executive to surpass €10 million annually. His dual role has drawn intense criticism from shareholders demanding he "needs both hands on the steering wheel."
Born in Braunschweig, Blume earned a PhD in mechanical engineering from Braunschweig Technical University and joined Volkswagen Group in 1994, holding positions at Audi, SEAT, Volkswagen, and Porsche before becoming Porsche CEO in 2015. He succeeded Herbert Diess as VW Group CEO amid the automaker's struggles with Chinese competition, declining sales, and a €10 billion cost reduction targeting 35,000 job cuts by 2030. Workers booed Blume at December 2024 labor meetings after he said he didn't live in a "fantasy world" regarding job security.
Early Life and Education
Born 6 June 1968, Braunschweig, Germany. PhD Mechanical Engineering, Braunschweig Technical University. Joined VW Group 1994.
Career
Held management roles at Audi, SEAT, VW, and Porsche (1994-2015). Porsche CEO October 2015. VW Group CEO September 2022, succeeding Herbert Diess.
Personal Life
Maintains strict privacy regarding personal and family life. No public information on marital status or children.
Compensation
€10.3 million (2024), Germany's highest-paid manager, first DAX executive over €10M. Receives 50% compensation from VW Group, 50% from Porsche since dual role began 2023.
Controversies
- Dual CEO Role**: Only person leading two DAX companies simultaneously. Shareholders demand he relinquish one position, saying "needs both hands on steering wheel." Porsche crisis (declining sales, China problems) intensified pressure January 2025.
- Job Cuts**: Targeting 35,000 workforce reductions by 2030 as part of €10B cost cuts. Workers booed him December 2024 after saying he didn't live in "fantasy world" about job security.
- EV Strategy**: Criticism for slow EV rollout, production delays (ID.7 Tourer), inability to scale EV production amid Chinese competition.
- Dieselgate Legacy**: Inherited legal liabilities from 2015 emissions scandal, projected €50M+ legal costs 2025.