Porsche AG's Wolfgang Hatz Leaving Company at Own Request
May 03 2016 - 10:34AM
Dow Jones News
By Monica Houston-Waesch
FRANKFURT--German sports car maker Porsche AG said Tuesday that
board member Wolfgang Hatz, who had been suspended as part of the
investigation into emissions rigging at parent company Volkswagen
AG, would leave the company.
Mr. Hatz, who had been Porsche's head of development since 2011,
is leaving at his own request. He will be replaced by Michael
Steiner, who most recently headed quality control at Porsche's
development center.
"Due to the length of time needed for the internal investigation
and thus the continuing suspension, (Mr. Hatz) has decided to leave
Porsche," the company said.
Porsche said Mr. Hatz has assisted in the investigation and
until now there has been no evidence to indicate his involvement in
the scandal.
According to Porsche's website, Hatz joined the Volkswagen Group
in 2001, and previously served as head of engines and transmissions
development at Audi until 2009.
Mr. Hatz was one of several executives suspended at the
Volkswagen group last fall after the company admitted to installing
software in millions of diesel vehicles that allowed them to dodge
pollution standards.
(END) Dow Jones Newswires
May 03, 2016 10:19 ET (14:19 GMT)
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