Volkswagen Group CEO Herbert Diess will reportedly defend his future vision for the group to employees this week. It appears that it is part of a compromise between Diess and shareholder union leaders who question Diess’ position.
It was recently revealed that there is unrest at the top of Volkswagen about the course that CEO Herbert Diess wants to take. The CEO is fully committed to electrification and digitization of Volkswagen and the stock market is being drawn for that. Diess wants to continue and is therefore even aiming for an early contract extension. At the beginning of this month, there would therefore be an emergency meeting between Diess, the shareholding union leaders and other board members. Reportedly, they eventually decided against it, but Reuters reports that there was a meeting about it again today. Especially among the union leaders there would be doubts about Diess and his vision for the Volkswagen Group. Members of the Porsche and Piëch families who sit on the board have previously expressed their support for Diess.
It is not known what has emerged from today’s meeting. Reuters reports on the basis of insiders that Diess can now count on more support from the unions and that the next step is coming in this whole story. This week Diess would explain in an online video meeting with ‘Volkswagen employees’ what his plans are for the longer term. This may stem from a wish of the union leaders. An early extension of Diess’ contract would be canceled, but it therefore seems that a compromise has been made and Diess does not have to fear an early departure for the time being.