VW CEO Winterkorn resigns over crisis; “further personnel consequences” coming; Exec. Committee filing criminal complaint
Volkswagen Group CEO Prof. Dr. Martin Winterkorn resigned today, taking upon himself responsibility for the emissions cheating scandal that has quickly engulfed the company. In a statement, the Executive Committee of Volkswagen AG’s Supervisory Board noted that Dr. Winterkorn had no knowledge of the manipulation of emissions data, and thanked Dr. Winterkorn “for towering contributions in the past decades and for his willingness to take responsibility in this critical phase for the company. This attitude is illustrious.”
The Executive Committee also said it was adamant on taking the necessary steps to ensure a new beginning for the tarnished company. As part of that, it is expecting “further personnel consequences” in the coming days. The company is also voluntarily submitting a complaint to the State Prosecutors’ office in Brunswick. The Executive Committee believes that criminal proceedings may be relevant due to the irregularities. Volkswagen will support the investigations of the State Prosecutor “in all forms.”
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. 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.
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.
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.
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. 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.