Volkswagen CEO Apologizes for Emissions Scandal

Volkswagen Chief Executive Martin Winterkorn issued a profuse apology on Tuesday, September 22 for the emissions scandal that rocked the company and sent its share price tumbling. Volkswagen admitted 11 million cars had been fitted with software that affected emissions readings in such a way as to give better readings than were actually the case. The company’s share price reportedly dropped over 35 percent in the two after the scandal broke.

On Monday, September 21, Michael Horn, CEO of Volkswagen US, said the company had screwed up. In his video statement, Winterkorn said he was endlessly sorry. He reportedly said Volkswagen had betrayed the trust of millions of people and that manipulation at VW must never happen again. Credit: Volkswagen