Report: Blume to Take Over as Head of Porsche

Oliver Blume, who currently heads production at Porsche AG, will be named to succeed Matthias Mueller as CEO of the luxury sports car company in the near future, sources tell Bloomberg News.

Mueller was selected on Friday to become CEO of Volkswagen Group after Martin Winterkorn resigned over the company's diesel emission test scandal. Mueller headed Porsche for nearly five years, increasing the unit's profit more than 60%.

Blume will take over as Porsche sales are likely to surpass a record 200,000 units, thanks mainly to the popularity of its SUV/crossover models.