I=8
Porsche is in talks to end CFO’s tenure early
- Porsche’s supervisory board has started talks to end the contracts of CFO Lutz Meschke and sales chief Detlev von Platen early.
- Both managers have been blamed for the company’s poor performance.
- Meschke and Platen have been with the company for more than two decades.
- Meschke has been on the company’s board since 2009 and is said to know the company like no other, Blume usually leaving the stage for him.
- It is also said that Meschke was increasingly becoming critical of Blume’s ambitious electric plans and was becoming less satisfied with the role of a deputy.
Assessment
The rate of management changes at Volkswagen Group is becoming alarming, that I am beginning to think there might be problems with Blume’s leadership style. I will provide additional assessment once we look into his tract record in detail since he took over.