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Volkswagen CEO Martin Winterkorn Resigns

Following one of the bigger automotive scandals in quite some time, Volkswagen CEO, Martin Winterkorn, has decided to step down and resign. This comes immediately after an announcement of his yesterday, denying rumors of him being fired or replaced. Winterkorn was extremely apologetic in his resignation, claiming no knowledge of any wrongdoings on his part in the scandal, but took full responsibility for the actions of Volkswagen.

“As CEO I accept responsibility for the irregularities that have been found in diesel engines and have therefore requested the Supervisory Board to agree on terminating my function as CEO of the Volkswagen Group. I am doing this in the interests of the company even though I am not aware of any wrong doing on my part.”

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It’s been said that Volkswagen will be deciding who takes Winterkorn’s place as CEO on Friday. Martin Müeller, Porsche’s CEO, was the last person rumored to be taking the job, but nothing has been set in stone. It also seems that other personnel will be held accountable and the Volkswagen Executive Committee is “expecting further personnel consequences in the next days.”

Here is Winterkorn’s full statement :

“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.

As CEO I accept responsibility for the irregularities that have been found in diesel engines and have therefore requested the Supervisory Board to agree on terminating my function as CEO of the Volkswagen Group. I am doing this in the interests of the company even though I am not aware of any wrong doing on my part.

Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way for this fresh start with my resignation.

I have always been driven by my desire to serve this company, especially our customers and employees. Volkswagen has been, is and will always be my life.

The process of clarification and transparency must continue. This is the only way to win back trust. I am convinced that the Volkswagen Group and its team will overcome this grave crisis.”

[Source: Jalopnik]

 

Nico DeMattia

I've been in love with cars since I was a kid, specifically German cars. Now I get to drive them talk about them on the internet.