Volkswagen CEO Resigns

volkswagon-698531_1280Volkswagen CEO, Martin Winterkorn, resigned Wednesday amid the company’s emissions scandal.

His statement said the company “needs a fresh start” as it seeks contain the damage of an emissions-rigging scandal that could lead to fines and lawsuits against the German carmaker.

“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,” Winterkorn said in a statement.

Find out more at CBS Money Watch.

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