Volkswagen Unit Porsche Said to Name Oliver Blume as New Chief

Porsche’s production chief Oliver Blume is set to succeed Matthias Mueller as the new head of the Volkswagen AG unit that makes the 911 sports car, according to a person familiar with the matter.

The appointment of Blume is to be sealed at a Porsche board meeting in the near future, said the person, who declined to be named because the talks are private.

The change at Porsche is necessary after Mueller was named Volkswagen’s new CEO Friday, in a bid to help the Wolfsburg-based carmaker respond to its worst crisis after revelations of cheating on emissions tests. Mueller had been running Porsche since October 2010, and the maker of luxury sports cars has boosted profit 62 percent over four years. Annual deliveries are on track to surpass 200,000 vehicles for the first time this year.

Before it's here, it's on the Bloomberg Terminal.