Winterkorn to step down from other roles at VW

By

Sharecast News | 12 Oct, 2015

Updated : 09:52

The ex-chief executive of Volkswagen, Martin Winterkorn, will step down from his other posts at the German car manufacturer, according to Reuters.

Winterkorn is still chief executive of Porsche SE - the family-owned holding company that has a majority stake in Volkswagen.

He is also chairman of Audi, Scania and Truck & Bus Holding.

The reports, which originally came from German newspaper Sueddeutsche Zeitung and TV stations NDR and WDR, said that his resignations are expected in the coming days as soon as a few formalities are dealt with.

Reuters reported the decision came after VW's second-biggest shareholder, the German state of Lower Saxony, put pressure on the former CEO.

Volkswagen declined to comment but has previously said Winterkorn's future involvement was up to the supervisory boards of the companies in question.

Winterkorn is set to face MPs on Monday over Volkswagen's diesel emissions scandal. The carmaker fessed up to fitting 11 million of its vehicles with software used to cheat environmental tests in the US.

Last news