After his resignation as the chief executive of the Volkswagen Group following the dieselgate scandal, it has just been confirmed that Martin Winterkorn has had to relinquish his position as Porsche SE chairman.
Porsche Automobili Holding SE controls a majority stake in Volkswagen and the company has agreed with Winterkorn for him to leave the firm. In a statement, Porsche SE said that he “ceases his function as member and chairman of the executive board of Porsche SE by the end of October 31, 2015.”
On November 1 2015, Hans Dieter Potsch will succeed Winterkorn as Porsche SE chairman, adding to Potsch’s new position as VW Group chairman.
Discussing the change, chairman of the supervisory board of Porsche SE Dr. Wolfgang Porsche said “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.”
Not terribly unexpected. We probably won’t see much of this guy anywhere for a while.