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Volkswagen's Diess To Remain CEO, But With Fewer Powers

After protracted negotiations led by Volkswagen Supervisory Board Chairman Hans Dieter Poetsch, a way forward has been found under which 63-year-old Diess will likely keep his job, the sources said

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Europe's largest carmaker, Volkswagen's CEO Herbert Diess who has led the company since April 2018 will likely stay on to lead Europe's largest carmaker as part of a solution that will see him cede some responsibilities following a clash with labour leaders, two people familiar with the matter said.

After protracted negotiations led by Volkswagen Supervisory Board Chairman Hans Dieter Poetsch, a way forward has been found under which 63-year-old Diess will likely keep his job, the sources said.

“It is going in the direction that the dispute will be settled and Diess will remain CEO,” one of the people said.

(REUTERS)



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