Porsche Boss Becoming Volkswagen CEO Is Negative for IPO, Bernstein Says
- In poll, 71% of investors take dim view on Blume’s dual role
- Some fund managers were already concerned about governance
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Volkswagen AG risks jeopardizing the initial public offering of Porsche by having its chief executive officer lead the whole group, according to Bernstein analysts.
Bernstein polled 58 investors after last week’s announcement that Porsche boss Oliver Blume will succeed VW’s Herbert Diess and double as CEO of both companies. The survey found 71% viewed the dual role as a clear negative for the IPO, with only 16% responding it might help. Investors were roughly split on whether the listing should go ahead.