Volkswagen AG Headquarters Raided After Former CEO Resigns At Porsche

Posted: Oct 19 2015, 11:19am CDT | by , in Cars & Vehicles


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Volkswagen AG Headquarters Raided After Former CEO Resigns at Porsche
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  • Volkswagen AG headquarters raided after Porsche CEO resigns!

The operations headquarters in France were searched a day after Martin Winterkorn the CEO of Porsche stepped down.

On Sunday a spokesperson of Volkswagen announced one of their offices in France was raided. Investigators searched the Volkswagen AG’s operations headquarters in France. The headquarters are situated in the northern French town of Villers-Cotterets.

The raid occurred a day after the CEO of Porsche Automobile Holding SE resigned, reported Bloomberg. Martin Winterkorn was the CEO of Porsche the biggest shareholder of Volkswagen. The raid occurred on Friday. According to VW personnel the staff completely cooperated with the probe.

Winterkorn stepped down after the VW emissions cheating scandal broke out. The Hans Dieter Poetsch chairman at VW will take over the office of CEO at Porsche. The takeover will be effective from the 1st of November.

Porsche owns more than half of the voting shares of Volkswagen. Winterkorn previously also resigned as the CEO of Volkswagen in September. The Porsche-Piech family wanted Winterkorn to retain his position.

The labor leaders and the German state of Lower Saxony wanted Winterkorn to resign. The two groups wish Volkswagen to make a fresh start after the emissions cheating scandal. Winterkorn became the CEO of Porsche in 2009.

Rumor has it talks are underway to even remove Winterkorn as the chairman of Audi. While VW announced they will be hiring the first outsider Christine Hohmann-Dennhardt. The new hire will handle the integrity and legal affairs of Volkswagen.

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