Volkswagen says its top U.S. executive is stepping down immediately | Reuters

Volkswagen AG said on Wednesday its top U.S. executive is stepping down nearly six months after the German automaker admitted to installing software to allow 580,000 diesel U.S. vehicles to emit excess emissions.

Michael Horn, who has been president and chief executive officer of Volkswagen of America since 2014, is leaving "to pursue other opportunities effective immediately," the company said.

The German automaker said on an interim basis, Hinrich J. Woebcken, who was recently named the new head of the North American Region and chairman of Volkswagen Group of America, will assume Horn's role.

Horn's departure comes as VW continues to negotiate with California, the Justice Department and California on possible fixes or buybacks for the diesel vehicles.

(Reporting by David Shepardson; Editing by Chris Reese)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Published Date: Mar 10, 2016 03:45 AM | Updated Date: Mar 10, 2016 03:45 AM

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