After it decided to leave it position as CEO for the Volkswagen Group, Martin Winterkorn remained in some key functions inside other brands of the Group. Now, that the scandal is deepening, Martin Winterkorn announces its resignaton also as member and chairman of the executive board at Porsche SE.

Hans Dieter Potsch, chief financial officer of Porsche SE, was appointed by the supervisory board to succeed Prof. Dr. Winterkorn as chairman of the executive board of Porsche SE effective November 1, 2015.

Wolfgang Porsche, chairman of the supervisory board of Porsche SE, said: “Martin 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.“