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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.

Top Gear drag races VW Golf R against McLaren 675LT and Porsche 911

Top Gear's latest quarter-mile drag race in the collects three very different performance vehicles: the 296-horsepower Volkswagen Golf R, 424-hp Porsche 911 Carrera GTS, and 666-hp McLaren 675LT. While each of these cars sit near the top of their segment, they each come from totally different rungs of the sports car price ladder. Spoiler alert, the Golf R doesn't win. But the final results illustrate the diminishing returns of price and performance. For example, the McLaren is only about a second quicker than the Porsche to 60 miles per hour, but the 675LT costs over 2.5 times more that the GTS. Related Video:

Audi RS3 and Volkswagen Golf R face off in Evo test

Typically when an automotive publication pits two rivals against each other, they come from different companies. After all, why would one automaker – even one parent company – develop two distinct models to compete against each other? Well, the Volkswagen Group isn't like most. It pits Porsches against Lamborghinis, Audis against Bentleys, Seats against Skodas... all under the same roof. In the high-powered hot hatch market, it offers both the VW Golf R and the Audi RS3. The question is, which is the better drive? Evo put them both on track for a quick bout of sibling rivalry to find out. On paper it would seem like an unfair fight. Sure, both are based on the same platform and channel their power to the tarmac through all four wheels. But the Audi's five-cylinder engine packs considerably more muscle than the Golf's four: 362 horsepower and 343 pound-feet of torque trump 296 hp and 280 lb-ft. There's just no way around that – at least until the Golf R 400 comes along. The Audi, as you might have guessed, also costs substantially more than the Volkswagen. But that's not Evo's concern here. This is a cost-no-object, bare-knuckle throw-down. Watch the ten-minute video above to find out if the cheaper, less powerful Golf R can keep pace with its more upscale and brawnier brother. Related Video: News Source: Evo via YouTube Audi Volkswagen Hatchback Performance Videos vw golf r evo