The former Volkswagen chief executive, Martin Winterkorn, will be stepping down as the head of Porsche Automobil Holding SE. Chief Financial Officer of Porsche SE, Hans Dieter Poetsch, has been appointed to succeed Winterkorn as Porsche SE chief executive starting November 1.

Winterkorn resigned from his position as CEO of Volkswagen after admitting to cheating in deisel emission tests in the US. It was assumed that he would probably step down from his remaining posts related to the company, and this is, indeed, what we are seeing.

He is also chairman of VW’s luxury brand Audi, its truck division Scania and it’s Truck & Bus holding. See the complete article here.