Volkswagen CEO Martin Winterkorn steps down

Baku. 24 September. REPORT.AZ/ Volkswagen CEO Martin Winterkorn stepped down Wednesday over a scandal in which the German carmaker admitted to rigging its diesel cars' emissions to pass U.S. tests.

Report informs referring to foreign media, in a statement, Winterkorn said he took responsibility for the "irregularities" found in diesel engines but that he was "not aware of any wrongdoing on my part."

No replacement for the post of CEO was announced.

"Volkswagen needs a fresh start also in terms of personnel," he said. "I am clearing the way for this fresh start with my resignation."

Winterkorn said VW must continue the process of "clarification and transparency."

"This is the only way to win back trust. I am convinced that the Volkswagen Group and its team will overcome this grave crisis," he added.

Following his statement, VW's share price was up 8.7 percent at 121 euros.