VW's top board said to avoid decision on CEO's future

VW’s top board said to avoid decision on CEO’s future

FRANKFURT — Volkswagen Group’s prime committee on Tuesday averted discussing a possible contract extension for CEO Herbert Diess, reviews stated.

A supervisory board panel ended a three-hour assembly with out a concrete proposal for defusing inner tensions over Diess’s want for a contract extension and extra dramatic modifications on the automaker.

Extra talks are required forward of a gathering of the total supervisory board subsequent week, in response to folks aware of the end result of Tuesday’s gathering.

Discussions about Diess, 62, and choices for prime administration posts will proceed within the coming days, stated the folks, who requested to not be recognized as a result of the conversations are personal.

Diess had demanded a vote of confidence in his reform efforts by asking for an early contract extension despite the fact that labor leaders on the firm opposed the transfer.

VW declined to remark.

“The chief committee won’t be pressured into a call, there is no such thing as a rush,” one of many folks aware of the matter stated, commenting on the potential contract extension.

The committee is headed by Volkswagen’s chairman Hans Dieter Poetsch. It consists of Wolfgang Porsche and Hans Michel Piech, members of the automaker’s proudly owning households who management a majority voting stake, in addition to VW labor boss Bernd Osterloh.

Forward of the assembly on Tuesday, Diess outlined his imaginative and prescient for reforming VW, saying he had not succeeded in overhauling its German operations the place labor chiefs can block vital selections.

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