Share this article

Martin Winterkorn will cease to be a member and chairman of the executive board of Porsche Automobil Holding SE on 31 October, the main shareholder in Volkswagen, the holding company said at the weekend. He'll be replaced by Porsche SE chief financial officer Hans Dieter Pötsch from 1 November.

In a statement, Porsche SE said it had "reached an agreement" with Winterkorn "that he ceases his function as member and chairman of the executive board of Porsche SE by the end of October 31, 2015".

Wolfgang Porsche, chairman of the supervisory board, said: "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."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData