Winterkorn stepped down? Not exactly

winterkorn sh 5 - picture courtesy Bertel Schmitt

On Wednesday, Volkswagen CEO Martin Winterkorn famously resigned as CEO of embattled Volkswagen, succumbing to pressure from the executive committee of Volkswagen’s supervisory board. This after widespread cheating with at least 11 million diesel engines was detected. As it turns out, Winterkorn still has a few Volkswagen jobs left.

Winterkorn still is CEO of Porsche Automobil Holding SE, the parent of Volkswagen AG, says Der Spiegel. Winterkorn also serves as chairman of the supervisory board of Audi AG.

“Apparently, this fact totally evaded the executive committee”, a Volkswagen insider quipped.