Volkswagen CEO Martin Winterkorn resigns amid scandal
- 9 years ago
Volkswagen CEO Martin Winterkorn resigned on Wednesday as the company grapples with an emissions cheating scandal, though he denied any personal wrongdoing.
"I am shocked by the events of the past few days.
Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group," Winterkorn said in a statement.
Volkswagen's executive committee, a sub-panel of its full board, said it's "expecting further personnel consequences in the next days" as its investigation proceeds into how the company installed sophisticated software onto 11 million diesel cars to avoid emissions regulations.
The emissions scandal has crushed Volkswagen's stock, spawned government investigations and lawsuits, called the future of diesel vehicles into question and raised questions about Winterkorn's knowledge of the situation.
"I am shocked by the events of the past few days.
Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group," Winterkorn said in a statement.
Volkswagen's executive committee, a sub-panel of its full board, said it's "expecting further personnel consequences in the next days" as its investigation proceeds into how the company installed sophisticated software onto 11 million diesel cars to avoid emissions regulations.
The emissions scandal has crushed Volkswagen's stock, spawned government investigations and lawsuits, called the future of diesel vehicles into question and raised questions about Winterkorn's knowledge of the situation.