Exclusive: VW CEO pushes for contract extension in vote of confidence move – sources

FRANKFURT (Reuters) – Volkswagen Chief Executive Herbert Diess has asked the families who control a majority voting stake in the world’s largest carmaker to back a contract extension for him in a bid to break a deadlock, two people familiar with the matter said.

The appeal for support from the Piech and Porsche families comes after Diess was forced to relinquish responsibility for the VW brand in June to remain as group CEO.

“He is bringing the issue to a head,” one of the sources told Reuters on Friday.

Another person familiar with the matter said Diess may review his position as CEO if his continued efforts to reform the multi-brand car and truck maker are stifled.Reuters News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.