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Winterkorn steps down as CEO of Porsche SE

Martin Winterkorn's departure from all things related to the Volkswagen Group is nearing completion. After having stepped down as chairman of the automaker's executive board nearly a month ago in the wake of the automaker's diesel emissions scandal, he's now leaving the direction of the company's principal shareholder, as well. After VW acquired Porsche (the automaker) several years ago, and in turn was principally acquired by Porsche (the holding company), the latter installed Winterkorn as its chief executive officer in order to cement ties between the parties. He's served as chairman of the executive board (German-speak for CEO) at Porsche Automobil Holding SE ever since, but he's now officially resigned from that position. In his place, the holding company has named Hans Dieter Potsch as its new chief exec. Potsch was also recently named as chairman of the supervisory board of the Volkswagen Group, having served until now as CFO of both VW AG and of Porsche SE. Winterkorn's principal successor at the helm of daily operations at VW is Matthias Muller, formerly CEO of the Porsche auto brand and now CEO of the entire VW group. The development brings Winterkorn's exit closer to completion. However the departing executive still, for the time being, remains at the head of group divisions Audi, Scania, and Truck & Bus GmbH. We don't expect it will be much longer, however, before he formally resigns from those chairmanships as well. Related Video: Porsche SE: Prof. Dr. Martin Winterkorn ceases function as member and chairman of the executive board Successor as chairman will be chief financial officer Hans Dieter Potsch Stuttgart, 17. October 2015. Porsche Automobil Holding SE, Stuttgart ("Porsche SE"), reached an agreement with Prof. Dr. Martin Winterkorn that he ceases his function as member and chairman of the executive board of Porsche SE by the end of October 31, 2015. Dr. Wolfgang Porsche, chairman of the supervisory board of Porsche SE, thanked Prof. Dr. Winterkorn for the successful work in previous years: "Prof. Dr. 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." Hans Dieter Potsch, chief financial officer of Porsche SE, was appointed by the supervisory board to succeed Prof. Dr.

Watch a Cayenne Turbo S, Range Rover SVR, and Cherokee SRT drag race

We live in a weird world where high-performance SUVs could win a 60-mile-per-hour sprint against sports cars from just a few years ago. Here, Top Gear sets up a three-way drag race against the Porsche Cayenne Turbo S, Land Rover Range Rover Sport SVR, and Jeep Grand Cherokee SRT, and the results show just how quickly these high-riding models can cross the quarter mile. The Cherokee SRT is the patriotic choice among the three, but it's down on power in this fight. Meanwhile, the Range Rover's menacing growl sounds the best, and the Cayenne Turbo S has the most horsepower. You'll have to watch the video to see which SUV will win this battle. Related Video:

2017 Porsche Macan receives delayed CARB certification

Customers waiting for delivery of their 2017 Porsche Macans will soon receive their vehicles after several weeks of delays. The California Air Resources Board certified the performance crossover for sale Monday. Several outlets reported the certification had been held up in the aftermath of parent company Volkswagen's diesel woes, as regulators are now making much more thorough inspections of the vehicles. Without certification, Porsche could not deliver those vehicles to customers in 13 states that abide by CARB certification, including California, New York, Pennsylvania, and Florida, several of the largest markets for luxury automobiles in America. Not only did dealers need to stop sale of Macans they had on their lots, but an unknown number could not be released from port. Porsche Cars North America (PCNA) imports its vehicles through ports in Jacksonville, FL, Davisville, RI, Houston, TX, and San Diego, CA. A spokesman for Porsche told Autoblog the issue has been resolved, and that the Macans received certification Monday. "Shipping has already been initialized," spokesperson David Burkhalter wrote. Pressed for details on the circumstances behind the delay, he said the process was simply "now the normal business procedure for certification." The Macan is a pivotal model for Porsche, particularly in the US market, which accounts for 22 percent of its worldwide sales. Last year, the Macan was the second-best selling Porsche model in America. Its 13,533 units sold trailed only the 16,473 Cayennes purchased by US buyers. Diesel models of the Cayenne manufactured between 2013 and 2016 contained the defeat devices at the center of Volkswagen's emissions cheating, according to the Environmental Protection Agency. The company offers the Macan with a range of turbocharged six-cylinder engines ranging in output from 340 to 400 horsepower. While a diesel version is not offered in the United States, Porsche has now started importing a less powerful, but more accessible (and slightly more fuel-efficient) version with a 2.0-liter turbo four. Related Video: