At a meeting of the Porsche holding company Supervisory Board, Volkswagen AG CEO Martin Winterkorn has been appointed CEO of the Porsche holding company, Porsche Automobil Holding SE.

VW Group CFO Hans Dieter Pötsch also becomes CFO of the Porsche SE company.

Porsche said in a statement that the two will exercise these tasks in addition to their functions as members of the Board of Management of Volkswagen AG.

Since 2007, Prof. Dr. Winterkorn has been CEO of Volkswagen AG and since 2003 Hans Dieter Pötsch has been CFO.

Porsche CEO Wendelin Wiedeking and CFO Holger Haerter stepped down July 23.

Porsche named Michael Macht, its personnel chief, to succeed Wiedeking as the head of the automotive business. However, Winterkorn sits above him as head of the Porsche holding company.