{"id":29890,"date":"2015-09-24T00:04:14","date_gmt":"2015-09-23T22:04:14","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=29890"},"modified":"2015-09-24T00:04:43","modified_gmt":"2015-09-23T22:04:43","slug":"29890","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/29890\/","title":{"rendered":"Who Called for the Defeat Device at VW?"},"content":{"rendered":"<p>Volkswagen CEO Martin Winterkorn stepped down Wednesday over the scandal in which the German carmaker admitted to rigging its diesel cars&#8217; emissions to pass U.S. tests.<\/p>\n<p>In a statement, Winterkorn said he took responsibility for the \u201cirregularities\u201d found in diesel engines but that he was \u201cnot aware of any wrongdoing on my part.\u201d<\/p>\n<p>No replacement for the post of CEO was announced.<\/p>\n<p>\u201cVolkswagen needs a fresh start \u2014 also in terms of personnel,\u201d he said. \u201cI am clearing the way for this fresh start with my resignation.\u201d<\/p>\n<aside class=\"trb_ar_sponsoredmod\">\n<div id=\"ym_1082618974440896766\">\u00a0Winterkorn said VW must continue the process of \u201cclarification and transparency.\u201d<\/div>\n<\/aside>\n<p>\u201cThis is the only way to win back trust. I am convinced that the Volkswagen Group and its team will overcome this grave crisis,\u201d he added.<\/p>\n<p>Following his statement, VW&#8217;s share price was up 8.7 percent at 121 euros.<\/p>\n<p>Still, it has a long way to make up for the declines that saw nearly 25 billion euros (around $28 billion) wiped off the company&#8217;s market value.<\/p>\n<p>Winterkorn had come under intense pressure since last Friday&#8217;s disclosure from the Environmental Protection Agency that the company had tried to dupe testers over emissions coming from its diesel cars. \u00a0His contract was scheduled to be extended by two years through 2018 at a meeting this Friday of the supervisory board.<\/p>\n<p>The EPA has said Volkswagen could face fines of as much as $18 billion. Other countries, among them\u00a0South Korea, have also ordered investigations into emission levels of VW cars and some law firms in North America have filed class-action suits.<\/p>\n<p>On Tuesday, Volkswagen said 11 million of its vehicles worldwide contained the so-called \u201cdefeat device\u201d that allowed the cars to beat the testers.<\/p>\n<p>In April Winterkorn won a battle against the car executive of the 20th Century, Ferdinand Piech. \u00a0Piech is a member of the Porsche family, and the battle against Winterkorn may be the only one he lost in his legendary career. \u00a0One of these two men, but likely not both, is responsbile for the &#8220;defeat device.&#8221;<\/p>\n<p><a href=\"http:\/\/www.w-t-w.org\/en\/29860\/vw-emissions-deceit\/\" target=\"_blank\" rel=\"attachment wp-att-29861\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-29861\" src=\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/09\/VW-Emissions-Deceit-300x254.jpg\" alt=\"VW Emissions Deceit\" width=\"300\" height=\"254\" srcset=\"https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/09\/VW-Emissions-Deceit-300x254.jpg 300w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/09\/VW-Emissions-Deceit-355x300.jpg 355w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/09\/VW-Emissions-Deceit.jpg 518w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Volkswagen CEO Martin Winterkorn stepped down Wednesday over the scandal in which the German carmaker admitted to rigging its diesel cars&#8217; emissions to pass U.S. tests. In a statement, Winterkorn said he took responsibility for the \u201cirregularities\u201d found in diesel &hellip; <a href=\"https:\/\/www.w-t-w.org\/en\/29890\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[22,13],"tags":[],"class_list":["post-29890","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Volkswagen CEO Martin Winterkorn stepped down Wednesday over the scandal in which the German carmaker admitted to rigging its diesel cars&#039; emissions to pass U.S. tests. In a statement, Winterkorn said he took responsibility for the \u201cirregularities\u201d found in diesel engines but that he was \u201cnot aware of any wrongdoing on my part.\u201d No replacement\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Adela Rogers\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.w-t-w.org\/en\/29890\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.10\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"W-T-W.org - Women and Finance\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Who Called for the Defeat Device at VW? - W-T-W.org\" \/>\n\t\t<meta property=\"og:description\" content=\"Volkswagen CEO Martin Winterkorn stepped down Wednesday over the scandal in which the German carmaker admitted to rigging its diesel cars&#039; emissions to pass U.S. tests. 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