Volkswagen CEO Stepping Down Over Emissions Scandal

The announcement comes after meeting with a five member executive committee of the Volkswagen board.

They summoned him on Wednesday to grill him over the emissions testing scandal.

"Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way for this fresh start with my resignation," Winterkorn said in a statement.

He accepts responsibility for the "irregularities," but maintains that he is "not aware of any wrongdoing on my part."

Winterkorn’s contract was up for renewal on Friday.

And board members say other VW officials will be replaced, as well.

Also on Wednesday, German prosecutors announced they had launched a preliminary investigation into the accusations that the company tried to get around emissions tests on their diesel vehicles.