The top of the VW supervisory board advises Tuesday on CEO Diess

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According to the insider. This requires a preliminary contract extension as a vote of confidence.

The head of the VW supervisory board advises on Tuesday about CEO Diess

According to insiders, the top of the VW supervisory board will deal with the future of Herbert Diess as CEO tomorrow, Tuesday. “The Bureau will lay down the cards as to how it will go on with him,” said a person familiar with the discussions on Monday the Reuters news agency. The outcome of the deliberations is “completely open, everything is possible at the moment.” Two other people confirmed the appointment. Volkswagen did not comment.

Reuters reported on Friday, citing corporate circles, that Diess was demanding an early contract extension as a vote of confidence that the supervisory board would support its course in the restructuring of the car manufacturer. That is why Diess had a feeling for the family owners Porsche and Piech. The prospects for a contract extension are low, however, because Diess (62) would have to win over the influential works council in addition to the German state of Lower Saxony as the second largest shareholder. Works council chief Bernd Osterloh is one of the harshest critics of the former BMW manager. From the environment of the Porsche SE holding company it was said that the family owners would continue to stand by Diess.

Topic in the presidium, which includes the chairman of the supervisory board Hans Dieter Pötsch and his deputy IG Metall boss Jörg Hofmann as well as Lower Saxony's Prime Minister Stephan Weil (SPD) and works council chief Bernd Osterloh as well as representatives of the family owners Wolfgang Porsche and Hans Michel Piech, should, according to one of the Also be an insider in the future layout of the board departments. According to several insiders, Diess feels blocked in his plans to fill key positions and is using his demand for a contract extension as a means of pressure.

His current contract as CEO runs until April 2023. An extension is usually discussed one year before it expires. At Diess, that would be possible in April 2022 at the earliest.

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