Jump to content
Create New...
  • William Maley
    William Maley

    Volkswagen CEO Martin Winterkorn Steps Down

      In Light Of the Diesel Emission Scandal, Volkswagen CEO Martin Winterkorn Resigns


    After an emergency meeting held today, Volkswagen CEO Martin Winterkorn announced his resignation amid allegations that the automaker manipulated their diesel vehicles to meet emissions regulations around the world.

     

    "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," said Winterkorn in a statement.

     

    "Volkswagen needs a fresh start - also in terms of personnel. I am clearing the way for this fresh start with my resignation."

     

    Since the announcement of Volkswagen's illegal software, the company had lost more than $26 billion in value over the last two days in the stock market.

     

    In a statement released by Volkswagen's Supervisory Board, a successor to Winterkorn will be considered at a meeting this Friday. The board also says in their statement that more people could be facing serious trouble in light of this scandal.

     

    Source: Volkswagen

     

    Press Release is on Page 2


     

    Statement by Prof. Dr. Winterkorn
    "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 wrong doing 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."

     

    Statement from the Executive Committee of Volkswagen AG's Supervisory Board

     

    In a meeting on Wednesday, September 23, the Executive Committee of the Supervisory Board of Volkswagen AG discussed in detail the manipulation of emissions data of Volkswagen Group diesel engines and came to the following conclusions:

    1. The Executive Committee takes this matter extremely seriously. The Executive Committee recognizes not only the economic damage caused, but also the loss of trust among many customers worldwide.
    2. The Executive Committee agrees that these incidents need to be clarified with great conviction and that mistakes are corrected. At the same time, the Executive Committee is adamant that it will take the necessary decisive steps to ensure a credible new beginning.
    3. The Executive Committee has great respect for Chairman Professor Dr. Winterkorn's offer to resign his position and to ask that his employment agreement be terminated. The Executive Committee notes that Professor Dr. Winterkorn had no knowledge of the manipulation of emissions data. The Executive Committee has tremendous respect for his willingness to nevertheless assume responsibility and, in so doing, to send a strong signal both internally and externally. Dr. Winterkorn has made invaluable contributions to Volkswagen. The company's rise to global company is inextricably linked to his name. The Executive Committee thanks Dr. Winterkorn for towering contributions in the past decades and for his willingness to take responsibility in this criticall phase for the company. This attitude is illustrious.
    4. Recommendations for new personnel will be presented at the upcoming meeting of the Supervisory Board this Friday.
    5. The Executive Committee is expecting further personnel consequences in the next days. The internal Group investigations are continuing at a high tempo. All participants in these proceedings that has resulted in unmeasurable harm for Volkswagen, will be subject to the full consequences.
    6. The Executive Committee have decided that the company will voluntarily submit a complaint to the State Prosecutors' office in Brunswick. In the view of the Executive Committee criminal proceedings may be relevant due to the irregularities. The investigations of the State Prosecutor will be supported in all form from the side of Volkswagen.
    7. The Executive Committee proposes that the Supervisory Board of Volkswagen AG create a special committee, under whose leadership further clarifying steps will follow, including the preparation of the necessary consequences. In this regard, the Special Committee would make use of external advice. Further details about this will be decided at the Supervisory Board meeting on Friday.
    8. The Executive Committee is aware that coming to terms with the crisis of trust will be a long term task that requires a high degree of consistency and thoroughness.
    9. The Executive Committee will work on these tasks together with the employees and the Management Board. Volkswagen is a magnificent company that depends on the efforts of hundreds of thousands of people. We consider it our task that this company regains the trust of our customers in every respect.

    User Feedback

    Recommended Comments

    I wager this whole ordeal is diesel's second death knell in North America's passenger car market. 

     

    VW single-handedly overcame the stigma attached to the diesels of yore, indirectly allowing companies like GM the ability to finally break back into the market. The coming Cruze diesel owes its existence to positive perceptions earned by VW.  

     

    Now everyone feels duped. By the time VW can even regain any trust, diesel will have been usurped by hybrids and electrics. 

    • Agree 1
    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


  • google-news-icon.png



  • Community Hive Community Hive

    Community Hive allows you to follow your favorite communities all in one place.

    Follow on Community Hive
  • google-news-icon.png

  • Subscribe to Cheers & Gears

    Cheers and Gears Logo

    Since 2001 we've brought you real content and honest opinions, not AI-generated stuff with no feeling or opinions influenced by the manufacturers.

    Please consider subscribing. Subscriptions can be as little as $1.75 a month, and a paid subscription drops most ads.*
     

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Similar Content

  • Posts

    • So three major problems with this car, one, terrible Jellybean external shape, not impressed at all with the style. Second is the buttonless dash having everything via a touch screen and rotary knob, terrible safety issue as your eyes will be off the road more than on trying to find the right option in the right menu. Third is the center pack clearly cuts into valuable leg space based on their own picture. This is a hard pass.
    • Great Masculine shape, really digging the style they did here.
    • First seen at the Shanghai Auto Show (see article: Polestar 4 - The New Breed of Electric SUV Coupe), Polestar brought the Polestar 4 to the New York International Auto Show for North Americans to see in person. Polestar calls the Polestar 4 an "electric SUV 4-door coupe". Outside of that marketing speak, the Polestar 4 is a slightly lifted four-door hatchback about 190 inches in length, or roughly 2 inches shorter than a Toyota Camry.  Built without rear glass, the Polestar 4 makes use of a rear camera for visibility astern. Polestar 4 features a plethora of standard content, including 20-inch 5 V-spoke black diamond cut alloy wheels, panoramic glass roof, adaptive cruise control, 360 parking camera with 3D view, energy saving heat pump, front-illuminated Polestar logo, e-latch doors, power-operated tailgate with soft close, Polestar digital key, wireless phone charging, and 8-way electrical driver seat and 6-way electrical passenger seat. The fastest production car the brand has ever developed to date, Polestar 4 can accomplish a 0-60 mph sprint in 3.7 seconds and in top spec can produce 544 horsepower. Long-range single-motor variants have 272 horsepower and a targeted EPA range of over 300 miles. All long range variants have a 102 kWh battery capable of 200 kW charging on a DC Fast Charger and 11 kW on home level-2 charging. Google built-in is ... built in and includes Google Assistant, Google Maps and Google Play. Polestar continues to offer a leading connected in-car experience. As with all other Polestar cars, regular over-the-air updates allow for new features and improvements to be sent remotely to all vehicles. Pricing starts at $54,900, with orders opening in April for deliveries in the latter half of this year.   View full article
  • Who's Online (See full list)

    • There are no registered users currently online
  • My Clubs

×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search

Change privacy settings