Porsche's leadership set-up and the limited influence for stock market investors after its IPO are prompting some fund managers - particularly those focussed on governance issues - to think twice about whether to invest in the listing.
"As a result of the capital and management structures, there is the potential for conflict of interest within governance," said Richard Hilgert, senior equity analyst at Morningstar.
Chi Chan, European equities portfolio manager at Federated Hermes, highlighted Blume's dual CEO roles as an issue in written comments to Reuters, echoing concerns from Volkswagen investors Union Investment and DWS."Governance best practice is for the management board to only have one executive position to ensure their focus and to avoid conflicts of interest," Chan said.
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