Volkswagen CEO Martin Winterkorn Resigns Over Emissions Scandal

“I am not aware of any wrongdoing on my part,” he said.

Volkswagen CEO Martin Winterkorn is resigning from the company following an emissions scandal.

VolkswagenThe company received a fine from the Environmental Protection Agency (EPA) for deliberately breaking emission laws. Winterkorn is taking responsibility for the breach despite claiming he wasn’t a part of the violation directly.

“I am not aware of any wrongdoing on my part,” he said. Nevertheless, Winterkorn added that as Volkswagen CEO, he will take full responsibility for the automotive company’s irregularities in some of its vehicles’ diesel engines.

Volkswagen’s supervisory board said they will take the case to German prosecutors for possible criminal prosecution.

More From InvestorPlace:
Is the Under Armour Stock Split a Raw Deal for UA Owners?
Grab These 1% Stocks while They Are Cheap
5 Boom or Bust Energy Stocks to Buy

Article printed from InvestorPlace Media,

©2020 InvestorPlace Media, LLC