Porsche SE Chooses Hans Dieter Poetsch To Succeed Martin Winterkorn As CEO

FRANKFURT, Germany (Reuters) -- Former Volkswagen CEO Martin Winterkorn is stepping down as head of Porsche Automobil Holding SE, the family-owned holding company that controls a majority stake in Volkswagen, Porsche SE said in a statement Saturday. Hans Dieter Poetsch, the chief financial officer of Porsche SE and designated new chairman of the VW supervisory board, was appointed to succeed Winterkorn as Porsche SE CEO, effective Nov. 1.

Several German media outlets have reported that Winterkorn, who quit at VW last month, would step down from his remaining posts related to the company in coming days.

Winterkorn resigned as CEO of Europe's largest carmaker after the group admitted cheating in diesel-emissions tests in the U.S., triggering the company's biggest business scandal in its 78-year history. Winterkorn is also chairman of VW's luxury brand Audi, its trucks division Scania and its newly created Truck & Bus holding.

Lower Saxony, VW's second-biggest shareholder, as well as influential labor leaders at VW have been putting pressure on Winterkorn to resign from his remaining posts within the group, several people familiar with the matter have said.

Volkswagen is considering a reduction in temporary workers as part of efforts to offset the cost of the emissions scandal, the automaker's works council said Saturday.

(Reporting by Arno Schuetze; Editing by Kevin Liffey)