FRANKFURT (Reuters) – Volkswagen, the world’s largest vehicle maker by sales, risked a leadership crisis on Tuesday after Chief Executive Herbert Diess forced a vote of confidence in his reform efforts by asking for an early contract extension. FILE PHOTO: Volkswagen Group Chief Executive Officer Herbert Diess gestures as he speaks during a news conference to announce the appointment of Wayne Griffiths as the new president of Volkswagen’s Spanish brand SEAT, in Barcelona, Spain September 23, 2020.
REUTERS/Albert Gea The multi-brand car and truck maker is convening its Executive Committee to discuss Diess’s demand for the contract extension, long before his current term comes to an end in 2023, three sources told Reuters on Monday. Volkswagen Chairman Hans Dieter Poetsch is seeking to avert a clash between labour leaders and Diess by postponing discussions about a contract extension, a person familiar with the matter said. Diess, who defected from BMW in 2015, and helped Volkswagen to reform after its diesel scandal with a 73 billion euro ($87 billion) electric vehicle investment plan, has grown frustrated with German labour leaders blocking cost cuts. The supervisory board’s Executive Committee, which is headed by Poetsch, and includes Wolfgang Porsche and Hans Michel […]