Martin Winterkorn, known for his role in the pervasive car company Volkswagen, has resigned as CEO. Volkswagen is known for quality and great gas-mileage at a reasonable price.  However, their reputation was recently damaged due to an emission cheating scandal that Winterkorn is responsible for.  Winterkorn claims that he didn’t commit any misconduct.

This resignation happened only days after the company admitted to having a large amount of cars in the United States equipped with a software that deceives emissions tests. Volkswagen also sent a video apology in an attempt to rehabilitate the company’s status, claiming that only 11 million cars were equipped with the software.  The company did not clarify whether the software was also present in other countries.

Shareholders of Volkswagen may be unhappy with the news of movement within the stock market being a possibility after this resignation. It’s irrefutable that this software problem will affect the company; the question is “to what extent?” The company is obligated to notify their shareholder or they face the danger of being fined and shareholders’ lawsuits according to the New York Times.

Initially, Volkswagen had three major candidates for the CEO position: Matthias Muller, who is in charge of the Porsche based section of the company, Rupert Stadler, head of the Audi division of the company, and Wolfgang Bernhard, head of the trucks division at Daimler. On September 25, 2015 it was announced that Matthias Muller would be the new CEO of Volkswagen.

As Matthias Muller embarks on his tenure, he faces many challenges in the future of a lucrative and prosperous company. Many people throughout the world rely on the good quality of Volkswagen and with this conundrum, it’s going to take some time for the company to regain these people’s trust.