Hyperdrive
Porsche IPO, Software Fix: What Awaits VW’s New CEO
- Oliver Blume takes on what may be a record European listing
- Expanding in US, shoring up China position will be tough tasks
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As much of Volkswagen AG takes a summer break the next few weeks, Oliver Blume, the carmaker’s designated chief executive officer, will be staring down an extensive to-do list.
A diverse set of pressing issues await the 54-year-old ascending to the job Herbert Diess has been ousted from. Lead among them will be listing Porsche AG -- VW’s most prized asset -- amid the worst climate for initial public offerings in years, and fixing protracted problems at the software division postponing new electric Porsches and Audis.