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Martin WinterkornVolkswagenResignation


23 Sep, 2015

Winterkorn announces his resignation. In a statement issued by the company Winterkorn says:

[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…[I am] not aware of any wrongdoing on my part [but] 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 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.

A successor will determined at a supervisory board meeting on September 25. However, rumors earlier suggested he might be replaced by Porsche President and CEO Matthias Muller, and Rupert Stadler, Audi’s chairman and chief executive, although Volkswagen has denied this.

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