Winterkorn is due a pension of approximately $32 million, Bloomberg reported. He may also get a large severance package to go along with the payout depending on what the board decides.
He was said to have no knowledge of the scandal, which saw software manipulated to hide diesel fuel emissions by certain models of the German car.
“As CEO I accept responsibility for the irregularities that have been found in diesel engines and have therefore requested the supervisory board to agree on terminating my function as CEO,” said Winterkorn. “I am doing this in the interests of the company even though I am not aware of any wrongdoing on my part.”
For more on Volkswagen’s saga, here’s a chart explaining the company’s tanking stock over the last week. And here’s its effect on Germany.