Volkswagen CEO Quits

Volkswagen CEO Quits

Volkswagen “Chief Executive Martin Winterkorn resigned on Wednesday, taking responsibility for the German carmaker’s rigging of U.S. emissions tests.” “Volkswagen needs a fresh start-in terms of personnel.” “I am clearing the way for this fresh start with my resignation,” Winterkorn said.

Volkswagen did not name a successor, but proposals on management appointments would be made to a full board meeting on Friday. “The carmaker was under scrutiny to take action, with its shares down more than 30 percent in value since the crisis broke.”

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