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Winterkorn steps down as CEO of Porsche SE

Martin Winterkorn's departure from all things related to the Volkswagen Group is nearing completion. After having stepped down as chairman of the automaker's executive board nearly a month ago in the wake of the automaker's diesel emissions scandal, he's now leaving the direction of the company's principal shareholder, as well. After VW acquired Porsche (the automaker) several years ago, and in turn was principally acquired by Porsche (the holding company), the latter installed Winterkorn as its chief executive officer in order to cement ties between the parties. He's served as chairman of the executive board (German-speak for CEO) at Porsche Automobil Holding SE ever since, but he's now officially resigned from that position. In his place, the holding company has named Hans Dieter Potsch as its new chief exec. Potsch was also recently named as chairman of the supervisory board of the Volkswagen Group, having served until now as CFO of both VW AG and of Porsche SE. Winterkorn's principal successor at the helm of daily operations at VW is Matthias Muller, formerly CEO of the Porsche auto brand and now CEO of the entire VW group. The development brings Winterkorn's exit closer to completion. However the departing executive still, for the time being, remains at the head of group divisions Audi, Scania, and Truck & Bus GmbH. We don't expect it will be much longer, however, before he formally resigns from those chairmanships as well. Related Video: Porsche SE: Prof. Dr. Martin Winterkorn ceases function as member and chairman of the executive board Successor as chairman will be chief financial officer Hans Dieter Potsch Stuttgart, 17. October 2015. Porsche Automobil Holding SE, Stuttgart ("Porsche SE"), reached an agreement with Prof. Dr. Martin Winterkorn that he ceases his function as member and chairman of the executive board of Porsche SE by the end of October 31, 2015. Dr. Wolfgang Porsche, chairman of the supervisory board of Porsche SE, thanked Prof. Dr. Winterkorn for the successful work in previous years: "Prof. Dr. Winterkorn assumed office as chairman of the executive board of Porsche SE in a difficult situation. He played a significant role in transforming our company into a highly professional investment holding. I would like to express my gratitude on behalf of the entire supervisory board." Hans Dieter Potsch, chief financial officer of Porsche SE, was appointed by the supervisory board to succeed Prof. Dr.

Audi to keep hiring workers despite VW diesel scandal

Even while Volkswagen contemplates delaying or canceling projects to pay for costs related to the massive diesel emissions scandal, its stablemate Audi is hiring, according to Reuters. Audi certainly isn't immune to the diesel scandal, with around 2.1 million affected vehicles worldwide including 13,000-14,000 in the US, but the scandal so far isn't affecting staffing levels. "We are sticking with plans for strategic growth and are continuing to hire new employees as planned," Audi board member for human resources Thomas Sigi said in a German newspaper, according to Reuters. Sigi even suggested paying a "respectable" bonus to workers next year. Audi has some big projects on the horizon, too. Among them, the company intends to launch a production version of the E-Tron Quattro Concept in 2018, and for performance fans a new TT RS appears to be on the way. The new A4 should be a big contributor to global volume when its worldwide rollout is complete. Rather than allowing the diesel scandal to hurt all of its divisions, the VW Group instead wants to concentrate the fallout (and costs) on the VW brand, according to Reuters. Those expenses could be huge. Volkswagen is budgeting around $7.3 billion just to repair the 11 million emissions-cheating vehicles. Worldwide, maximum estimates put the whole mess at $87 billion. Related Video:

Porsche 911 Carrera 4, Alfa Romeo Giulia Quadrifoglio and a chat with Jean Jennings | Autoblog Podcast #626

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer, Associate Editor Byron Hurd and special guest Jean Jennings. The gang kicks off with a discussion about the cars they've been driving — 2020 Porsche 911 Carrera 4, 2020 Alfa Romeo Giulia Quadrifoglio and the 2020 VW Tiguan. They shift gears to talk about the latest news gleaned from a press conference concerning the 2021 Supra, then, they reach into the mailbag to help a listener buy a performance car. Lastly, Greg has a chat with special guest Jean Jennings. Autoblog Podcast #626 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2020 Porsche 911 Carrera 4 2020 Alfa Romeo Giulia Quadrifoglio 2020 Volkswagen Tiguan R-Line 2021 Toyota Supra news Spend My Money Jean Jennings interview Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: