HAMBURG (Reuters) -Volkswagen’s supervisory board will provide details on Thursday on the future responsibilities of CEO Herbert Diess, which are likely to be curtailed as a result of an ongoing clash with the firm’s works council, a person familiar with the matter said.
The board, which also includes representatives for the Porsche and Piech families, Qatar and Lower Saxony, will outline “how to continue with Mr Diess and what will be his focus area in the future”, the source said.
The carmaker’s supervisory board, which is scheduled to meet to debate the group’s next five year spending plan, will also appoint four new management board members, including brand CEO Ralf Brandstaetter, a separate source said.
Spokespeople for Volkswagen and the group’s supervisory board declined to comment.
Sources had told Reuters earlier this week that Diess was likely to stay on as CEO, albeit with fewer responsibilities, and that Brandstaetter, who previously took over responsibilities from Diess, was slated to join the board.
(Reporting by Jan Schwartz; Writing by Christoph Steitz; Editing by Hans Seidenstuecker, Riham Alkousaa and Miranda Murray)
