Oliver Blume's pay soars to €7.4M after stepping down from Porsche leadership
Oliver Blume's earnings rose sharply in 2024 after he stepped back from leading Porsche. The Volkswagen CEO took home around €7.4 million last year, up by nearly €3 million from 2023. His pay package included bonuses tied to Porsche's performance and stock market listing.
Blume had previously held dual roles as CEO of both Volkswagen and Porsche. At the start of this year, he handed over Porsche's leadership to Michael Leiters, allowing him to focus solely on Volkswagen. His 2024 compensation reflected this transition, with earnings rising significantly compared to the previous year.
His total pay consisted of a base salary, pension provisions, and long-term incentives. Around €1.9 million of his 2024 earnings came from Porsche, partly linked to the company's stock market performance. Porsche executives typically receive a fixed salary alongside variable bonuses, which depend on financial targets set by the supervisory board. The exact compensation for Michael Leiters, who took over as Porsche's CEO, has not been disclosed. Unlike Blume's dual-role earnings, Leiters' pay will likely follow Porsche's standard structure of base salary and performance-related bonuses.
Blume's increased earnings highlight the financial impact of his leadership changes. His pay rise came after relinquishing Porsche's top job, with bonuses still influenced by the brand's market success. The shift leaves Porsche under new management, though details on Leiters' compensation remain undisclosed.
