Ex-VW chief Winterkorn quits as Porsche CEO
Frankfurt
VOLKSWAGEN AG's former chief executive officer Martin Winterkorn stepped down from his post running Porsche Automobil Holding, VW's biggest shareholder, succumbing to pressure to cut his ties amid an investigation into cheating on emissions tests.
VW chairman Hans Dieter Poetsch, who already sits on the Porsche board, will take over from Mr Winterkorn on Nov 1, the Stuttgart-based company said in a statement on Saturday. The holding company, controlled by the Porsche and Piech families, owns more than half of VW's voting shares.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
China's largest auto show displays all-electric future, local brands dominate
Toyota hits record annual output, sales on robust demand
Nissan, Mazda roll out new models for China as they aim for comeback
VinFast chief plans to invest US$1 billion more from his fortune in EV maker
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’