Volkswagen CEO Martin Winterkorn Stepping Down in Emissions Scandal

Although he denied any personal wrongdoing, the now-former CEO said that the company needed "a fresh start."

The CEO of Volkswagen said Wednesday that he would step down as the company wrestles with a scandal over rigged emissions tests. CEO Martin Winterkorn denied any personal wrongdoing but said the company needed "a fresh start." He said in a statement, "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." Volkswagen has admitted that it rigged U.S. emissions tests to make it look as if its diesel-powered cars were emitting fewer nitrogen oxides, which can contribute to respiratory illness. 

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