It's Official: VW CEO Winterkorn Has Resigned

Amid the fall-out from VW’s emissions scandal - which hit when the company admitted ‘cheating’ on EPA tests using ‘default devices’ - there’s been endless speculation as to what might happen to the top brass. In particular, whether or not CEO Martin Winterkorn would remain at the helm of the German firm. We now have our answer to that particular piece of the puzzle, as Winterkorn has just announced that he’s to step down "with immediate effect" from his position.

However, the 68-year-old - who has been CEO of VW Group since 2007 - still denies any knowledge of the emissions fixing efforts. In an official statement (which we’ve reproduced in full at the bottom of this page), he said: "I am clearing the way for a fresh start…I am doing this in the interests of the company even though I am not aware of any wrongdoing on my part."

On Tuesday, Winterkorn appeared in a YouTube video apologising for the scandal, not long after the company revealed that up to 11 million vehicles are affected worldwide, and that it had set aside €6.5 billion to rectify the cars in question.

"I am clearing the way for a fresh start. 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 wrongdoing 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."