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Volkswagen CEO Martin Winterkorn resigns

Volkswagen CEO Martin Winterkorn resigns

Volkswagen Chief Executive Martin Winterkorn has stepped down as a result of revelations last week that the German carmaker had manipulated diesel car emission tests in the US. No successor has yet been named.
Martin Winterkorn’s resignation came after a protracted meeting of VW’s presidium of major shareholders ahead of a regular supervisory board meeting on Friday.
The 68-year-old executive said he was stepping down “in the interests of the company” as it grappled with the aftermath of the falsified emissions tests scandal that had rocked the German carmaker.
He said in a statement that “Volkswagen needs a fresh start, also in terms of personnel,” adding that he would clear the way for this fresh start with his resignation.
“I’m shocked by the events of the past few days, “Winterkorn said. “Above all, I’m stunned that misconduct on such a scale was possible in the Volkswagen Group.”
Successor to be named on Friday?
Supervisory board chief Berthold Huber told reporters in Wolfsburg that no decision had yet been reached on Winterkorn’s successor, adding that more details would be announced after the board’s meeting on Friday.
Huber emphasized that Winterkorn had had no knowledge personally of the emission test manipulations in the US, but said he respected his move to take responsibility for the scandal. Given Winterkorn’s engineering background, observers had doubted that he could be unaware of the use of so-called “defeat devices.”
US authorities are planning criminal investigations after discovering that VW programmed computers in its cars to detect when they were being tested and alter the running of diesel engines to conceal the true level of emissions.
Deutsche Welle

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