Meet the newest Ex-VW CEO, Martin Winterkorn

MANILA: The chain of event that started up on Friday has taken up the much-expected turn. The blunder maker has been finally punished, after being struck hard by the ward of EPA, he has decided to leave the huge VW Empire, as he cannot take any more red-faced looks of shareholders and board persons. After apologizing, Volkswagen CEO Martin Winterkorn resigned, taking entire responsibility for the German carmaker's fraud in U.S emission test.

"Volkswagen needs a fresh start - also in terms of personnel. I am clearing the way for this fresh start with my resignation," Winterkorn said in a statement. Adding to this he said that he was shocked by the event of the past few days and was stunned to see that a misconduct on such a large scale is a company as big as VW was even possible.

The company was under immense pressure since the Friday outbreak, and the pressure can be very well be estimated by the downfall in VW's share value that went down more than 35 percent. As a result, Winterkorn was grilled for hours in the company’s headquarter by five-member executive committee and the result is very much loud and clear to the world.

U.S authorities said that they are planning a criminal investigation after discovering that VW planted software in its cars that would manipulate emission rating. In addition, German prosecutors are also under plans to conduct a preliminary investigation into the matter.

Two researchers are responsible for the unveiling of VW scandal, said to be the biggest in its 78 years history. With financial help from West Virginia University, the team was able to track the 'defeat device' that allowed Passat and Jetta to pass the emission test that is said to be used by the company since 2009.

As for the replacement, the company is still looking for a strong contender, who could clean up the entire mess and bring back the lost glory of VW. As for the unlucky ex-CEO, he'll be taking $32 million pension home.

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