Martin Winterkorn, Volkswagen CEO, is out.
Just yesterday Winterkorn said he wanted to stay on at the auto maker after German media reports that he was going.
VW shares seemed to find their floor yesterday and have been rising for most of today - they're looking volatile as the news breaks. They're currently up by 7.50%, but they're extremely volatile right now and there's no clear upward or downward reaction from the news:
Investing.com
Since the move broke, VW shares have been up between 4% and 8% as the market tries to settle on a whether the departure is good news or not.