Porsche picks new r&d chief as suspended Hatz quits

UPDATED: 5/3/16 10:15 am ET - adds statement

Porsche AG's supervisory board has appointed Michael Steiner as new head of r&d, replacing Wolfgang Hatz who will leave the sports-car maker at his own request.

Porsche r&d chief Hatz to leave company; Steiner named successor

Porsche said its development chief, Wolfgang Hatz, has left the company amid parent VW Group's emissions scandal. His successor is Michael Steiner,

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