Analysis-Porsche's new CEO will inherit old problems [Yahoo! Finance]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
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Source: Yahoo! Finance
BERLIN/LONDON/FRANKFURT (Reuters) -Porsche's outgoing CEO Oliver Blume has one more quarterly report to deliver on Friday before his decade-long tenure comes to an end. It won't make for pretty reading. The German sports car maker is set to post a deep operating loss as it finds itself wedged between a severe slump in top market China and pressure from U.S. tariffs, while undergoing a costly reversal of its shift to electric cars. In a bid to fix things, Porsche has appointed ex-McLaren boss Michael Leiters as the next CEO who will take the wheel in January, hoping to revive demand in China and unpick the EV conundrum. Investors remain to be convinced. "After several profit warnings in a year, visibility for the business model remains very limited," said Ingo Speich of Deka Investment, which holds about $48 million of Porsche stock. He added that Leiters' experience at higher-end rivals McLaren and Ferrari signalled where the company might go. CAN NEW CEO LEAD PORSCHE INTO AN
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