The negative effect on development programs could be severe because of the staggering amounts of money in the pending VW Group diesel recall.
Porsche Automobil Holding SE in Stuttgart has fired Martin Winterkorn as a member and chairman of the executive board effective 31 October 2015. This is the latest development in the growing and company-threatening crisis at Volkswagen Group because of its deliberate diesel emissions fraud perpetrated on several continents by now disgraced engineering and management groups.
One issue is how the deliberate use of testing defeat software that increases diesel NOx emissions will affect the survival of VW in the U.S. and ultimately other countries. Because of the capital stake Porsche SE holds in Volkswagen AG (31.5%), the results of Porsche SE will be diminished. The Porsche Profits target for the Porsche SE Group for fiscal 2015 will also require adjustment downward. (Porsche Profits Impaired by Pending VW Diesel Recall, Fines)
Hans Dieter Pötsch, 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.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
