Martin Winterkorn quits Volkswagen

Sitting in a meeting this morning, the news ticker on a TV in the corner reported how dieselgate class action lawsuits had begun to arrive in Volkswagen USA’s mailbox. I was absolutely ready for Ferdinand Piëch’s face to pop up on BBC News, but there was no sign of Piëch and now there’s no sign of Winterkorn, for he has quit as boss of Volkswagen with immediate effect.

Who is likely to take over? Someone who takes no crap and who is close to the Porsche family. Matthias Müller is just about perfect for the position, but would he want the job now? I think he might. The new CEO’s first priority must be to shine the spotlight on the wider motor industry and take all that heat off Volkswagen.

See our previous post on Porsche SE’s profit warning and Volkswagen’s share price crash in the two days since this story broke.

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