Martin Winterkorn stepped down as chief executive of Volkswagen, bowing to mounting pressure over an emissions scandal that has wiped more than 30 per cent off the company’s share price since Monday and sent tremors through the European car industry.
“Volkswagen needs a fresh start,”
Mr Winterkorn said in a statement. “I am clearing the way for this with my resignation.” He said he was standing down “in the interests of the company, although I am not aware of any wrongdoing on my part”.
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