Porsche strengthens grip on Stuttgart after board president change

Oliver Blume, Chairman of the Executive Board of Porsche, speaks during the company's annual press conference at the Leipzig plant. The sports and off-road vehicle manufacturer Porsche published its business figures for the past year on the same day. In 2023, the company generated 40.5 billion euros. Jan Woitas/dpa

German car maker Porsche has continued to exert control over Bundesliga side VfB Stuttgart by getting its way over a new president for the club's supervisory board.

The side, who sit third in the Bundesliga after enjoying a surprisingly strong season so far, said in a statement on Tuesday that Porsche pick Tanja Gönner - the managing director of the Federation of German Industries (BDI) - would replaced Claus Vogt.

Vogt, who had been president since 2019, will remain a member of the supervisory board, as per the wish of top investor Porsche.

"Following intensive discussions with Claus Vogt and the members of the supervisory board, Porsche would like - as promised by Claus Vogt - to make a fresh start with a new president," Porsche recently announced.

"Porsche though is not seeking to take over the presidency of the supervisory board."

German clubs that do not have exemptions cannot have one owner holding over 50% of shares. Stuttgart though are boosted by having both of their local world famous car firms as investors - Porsche and Mercedes.

Stuttgart's stadium used to be called the Mercedes-Benz Arena but this term is named after Porsche consulting firm MHP.

Gönner wants a tweak the next time a president is needed.

"Together with the supervisory board members of our partners Mercedes-Benz and Porsche, I am of the opinion that in future the ideal appointment of the president of the supervisory board should be a member of the club's executive board who was directly elected by the members and has the necessary professional and personal qualifications," she said.

Lutz Meschke, Deputy Chairman of the Executive Board of Porsche, speaks next to Oliver Blume (L), Chairman of the Executive Board of Porsche, during the company's annual press conference at the Leipzig plant. The sports and off-road vehicle manufacturer Porsche published its business figures for the past year on the same day. In 2023, the company generated 40.5 billion euros. Jan Woitas/dpa
Oliver Blume (L), Chairman of the Executive Board of Porsche, speaks next to Lutz Meschke, Deputy Chairman of the Executive Board, during the company's annual press conference at the Leipzig plant. The sports and off-road vehicle manufacturer Porsche published its business figures for the past year on the same day. In 2023, the company generated 40.5 billion euros. Jan Woitas/dpa