Martin Winterkorn resigned as chief executive of Volkswagen on Wednesday, taking responsibility for an emissions cheating scandal that has gravely damaged the carmaker’s reputation and may spread to the German economy.“As C.E.O. I accept responsibility for the irregularities that have been found in diesel engines,” Mr. Winterkorn, 68, who had headed the company since 2007, said in a statement.
But he continued to insist that he personally had committed no misconduct. “I am not aware of any wrongdoing on my part,” he said.
Volkswagen shares, which had been up on Wednesday after two days of steep declines, remained nearly 6 percent higher on the news late in the day in Germany. But they were still about 25 percent below the closing price in Frankfurt on Friday, before news of the scandal broke.
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