Volkswagen C.E.O. Martin Winterkorn Resign

Martin Winterkorn has resigned as chief executive of Volkswagenon on Wednesday.
Mr. Winterkorn’s resignation came less than a week after the company admittedthat some diesel cars in the United States contained software designed to evade emissions tests.

    “As C.E.O. I accept responsibility for the irregularities that have been found in diesel engines,” Mr. Winterkorn said.

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 the Obama administration told the automaker to recall nearly a half-million cars over illegally installed software.

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