VW's mediation committee was unable to reach a compromise on Herbert Diess' future despite several attempts according to media reports
The supervisory board will meet & discuss on Tuesday whether and, if so under what conditions further cooperation with the Group CEO is possible
The supervisory board will meet & discuss on Tuesday whether and, if so under what conditions further cooperation with the Group CEO is possible
The unions and the state of Lower Saxony, as co-owner of VW, are worried that the CEO will continue to cause unrest with his management style, which is sometimes perceived as provocative
Minister-President Weil, as well as Worker council head Cavallo, have upcoming elections
Minister-President Weil, as well as Worker council head Cavallo, have upcoming elections
The Executive Committee is now a broader body whose recommendations are generally followed by the Supervisory Board as a whole. Internally, it is said that too much importance should not be attached to the Tuesday meeting, as a number of other meetings are still scheduled.
According to internal VW sources, a discussed solution is that Brandstätter, who is popular among employee representatives, is soon to become a member of the Group Board of Management. In addition, according to supervisory board circles, it is being considered to give him (...)
(...) responsibility for the Group's volume group - i.e. responsibility for the volume brands VW, Skoda and Seat. Until now, Diess has been responsible for this on the Group Board of Management
Diess influence would be reduced once again as he lost already the VW Brand CEO role
Diess influence would be reduced once again as he lost already the VW Brand CEO role
"At the moment it looks like the threads are coming together," a person with knowledge told Reuters news agency on Monday
The goal is a total package of several board personnel appointments, employment prospects for employees and investment commitments for the next years
The goal is a total package of several board personnel appointments, employment prospects for employees and investment commitments for the next years
I expect Diess to lose influence and Brandstätter to gain influence but Diess to retain the Group CEO role
A larger package of compromises and commitments is in the works to satisfy all parties involved
A larger package of compromises and commitments is in the works to satisfy all parties involved
Diess in an internal video
"We will fundamentally rethink the Group management" The goal is better cooperation in the respective brand groups "The Group will withdraw strongly from the operating business" This should reduce hierarchical levels & accelerate the speed of decisions
"We will fundamentally rethink the Group management" The goal is better cooperation in the respective brand groups "The Group will withdraw strongly from the operating business" This should reduce hierarchical levels & accelerate the speed of decisions
Ralph Brandstätter will likely take over the VW Group volume business globally that respresents 80% of all units sold
Brandstätter, "It's very important to me in this context: every brand must and should be able to develop successfully."
Brandstätter, "It's very important to me in this context: every brand must and should be able to develop successfully."
• • •
Missing some Tweet in this thread? You can try to
force a refresh
