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Volkswagen board executive committee to discuss CEO Diess’ future on Tuesday

by Mike Robinson

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© Reuters. FILE PHOTO: Volkswagen CEO Herbert Diess at Volkswagen’s electrical automotive plant in Zwickau, Germany, June 23, 2021. REUTERS/Matthias Rietschel/File Picture

BERLIN (Reuters) – Volkswagen (DE:)’s supervisory board government committee will meet on Tuesday to debate the way forward for CEO Herbert Diess, sources stated, confirming a report in Germany’s Frankfurter Allgemeine Zeitung (FAZ) earlier on Monday.

It’s not but clear whether or not a closing choice can be made at Tuesday’s assembly, which can be attended amongst others by works council head Daniela Cavallo and representatives for almost all shareholder households, Hans Michel Piech and Wolfgang Porsche, the FAZ stated.

The corporate is because of talk about its five-year spending plan on December 9, and it’s anticipated {that a} choice can be made earlier than then, FAZ reported.

Volkswagen declined to remark.

Tensions have risen in latest weeks between Diess and union representatives at Volkswagen over his administration fashion and electrification technique, after the CEO warned at a gathering that 30,000 jobs could possibly be misplaced if the method was not managed effectively.

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