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Volkswagen shares rebound after CEO quits over emissions scandal


Germany

Volkswagen shares rebound after CEO quits over emissions scandal

Battered shares of the scandal-hit German carmaker Volkswagen have continued to rebound following the resignation of the firm’s Chief Executive Martin Winterkorn

Volkswagen’s stock had slumped some 30 percent in recent days
after the firm admitted deceiving US regulators about how much its diesel cars pollute.

Winterkorn stepped down on Wednesday, saying he was quitting “in the interests of the company even though I am not aware of any wrongdoing on my part”.

His departure saw Volkswagen shares close up more than 5 percent on Wednesday. They have continued to move in the right direction today, with a 6 percent bounce.

But the firm faces a huge task to restore investor and consumer confidence amid the growing emissions scandal.

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