Volkswagen CEO Winterkorn quits in emissions scandal
Martin Winterkorn, the CEO of Volkswagen, resigned Sept. 23, one day after the manufacturer acknowledged 11 million Volkswagen-made cars have software that dupes official emissions tests. “I am shocked by the events of the past few days,” Winterkorn said in a statement. “Above all, I am stunned misconduct on such a scale was possible in the Volkswagen Group.” The announcement came less than one week after the U.S. Environmental Protection Agency said the car company put software in diesel cars that turns emissions control systems off when the car isn’t undergoing official tests. Volkswagen is faced with several fallouts, investors punished its stock to the chance that the U.S. government will levy billions of dollars in fines. There’s also the
Read more