Shares of Volkswagen have plunged nearly 30% since the news of the automaker's Clean Air Act violations first surfaced last Friday. The stock is now more than 50% below the 52-week high that it hit in March...
"This is a mess. The CEO's resignation makes it more of a mess because it's a rudderless ship," said Richard Torrenzano, CEO of the Torrenzano Group, a firm specializing in crisis management for corporations.
It's important to remember that Volkswagen was already in trouble before the term "defeat device" started trending on Google and social media...
"How can VW polish themselves off and move on? It's not a simple matter," Torrenzano said. "They need a strategy to move through this carefully. It's a matter of credibility. Cheating is a terrible sin."
Click here to continue reading: Volkswagen has plunged 50%. Will it ever recover?