Martin Winterkorn was forced to leave his post as CEO of the Volkswagen group, after the scandal related to the device installed on TDI engines to circumvent controls against emissions standards in the United States.
L he events unfolded at breakneck speed. During the weekend the news stating that Volkswagen set up an electronic device to circumvent controls against pollutant emissions standards of its TDI engines in the US are met. Hours after Volkswagen CEO Martin Winterkorn admitted that the news was true, and they had made a big mistake and today I finally had to surrender his post, announcing his resignation.
Martin Winterkorn was who assumed responsibility for the hoax and decided to leave his post as CEO. Gone was his rise as president of the supervisory board of the VAG group, left little time behind vacant by Ferdinand Piech and now Volkswagen is in a situation in which practically must start from scratch to try to recover its image .
Winterkorn accepted responsibility by the irregularities found in diesel engines, resigning his office under safeguard the interests of the company, although not considered have been no wrongdoing on his part.
Given these facts, Volkswagen shares plunged more than 30% , while the company admitted that about 11 million vehicles sold worldwide are equipped with the so-called “device” . After learning the news, German prosecutors opened an investigation into the manipulation of results of emission testing of vehicles.
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