Former General Electric chief and management expert Jack Welch said Thursday that Volkswagen has been taking the correct course of action in the face of what he called an "egregious act" of rigging some diesel cars to beat U.S. emissions tests.
"They made the right first move because ... axing the CEO had to happen," he said in a CNBC "Squawk Box" interview. "They did it fast. They didn't do it by a thousand cuts."
The embattled German automaker on Friday is expected to name a successor to Martin Winterkorn, who resigned Wednesday as chief executive. He denied any personal wrongdoing. The VW board Friday also
"Now they have to go in and get a whole crowd of them and get them hung in the town square," Welch said. "Here's a place where truth and trust didn't exist."
"I would tar and feather them," he said.
Meanwhile, Germany's transport minister said Thursday emissions manipulations by Volkswagen also took place in Europe.