Wednesday, September 23, 2015

Volkswagen CEO Resigns Amid Emissions Scandal

Sean Gallup / Getty Images

Volkswagen CEO Martin Winterkorn resigned Wednesday after revelations the automaker installed software in many of its diesel cars designed to cheat on emissions tests.

His resignation was announced at a press conference at VW headquarters in Wolfsburg, Germany.

The company's shares have tanked since U.S. federal environmental officials announced on Friday they had discovered a “defeat device” in 2009–2015 model Volkswagen and Audi diesel cars that uses sophisticated software to turn on full emissions controls only during official lab tests.

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