Volkswagen CEO Winterkorn resigns: statement

Volkswagen's chief executive Martin Winterkorn said today he was resigning in the wake of a spiralling scandal over pollution test cheating.

"I am shocked by the events of the past few days. Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group," Winterkorn said in a statement.

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

Volkswagen will announce a new CEO on Friday, a board member said.

German public prosecutors said they have launched a preliminary criminal inquiry into the pollution cheating scandal that has engulfed the auto giant.