VW Chief Winterkorn Steps Down After Emissions Scandal
- VW's board to consider successors at meeting on Friday
- Automaker asks prosecutors to open criminal investigation
VW CEO Winterkorn Resigns Amid Emissions Scandal
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Volkswagen AG Chief Executive Officer Martin Winterkorn resigned after U.S. officials caught the company cheating on emissions tests, leaving the world’s top-selling automaker to appoint a fresh leader to repair its reputation among customers, dealers and regulators around the globe.
Stepping down after almost a decade in charge, Winterkorn said he was accepting the consequences of the mushrooming scandal that has wiped 20 billion euros ($22 billion) off the company’s market value.