Dhe top of the Volkswagen supervisory board will, according to insiders, deal tomorrow, Tuesday, with the future of Herbert Diess as CEO. “The presidium will lay down the cards as it goes 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.
According to information from corporate circles, Diess is demanding an early contract extension as a vote of confidence that the Supervisory Board will support its course in the restructuring of the automaker. That is why Diess had a feeling for the family owners Porsche and Piech. The prospects for a contract extension are low, however, because the 62-year-old Diess would have to win over the influential works council as the second largest shareholder alongside the state of Lower Saxony.
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 on the future layout of the board departments.
According to several insiders, Diess feels blocked in his plans to fill key positions and uses 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.