VW reportedly settles power struggle, Herbert Diess to remain CEO

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The dispute between Volkswagen Chief Executive Herbert Diess and the carmaker’s powerful works council seems to have been resolved, with Diess most likely keeping his job, a source familiar with the discussions told Reuters on Monday.

“It is going in the direction that the dispute will be settled and Diess will remain CEO, the source said.

Volkswagen shares were trending at 28.42 USD as of Dec. 6.
Volkswagen shares were trending at 28.42 USD as of Dec. 6.
AFP via Getty Images

As part of the solution found through protracted negotiations, VW brand chief Ralf Brandstaetter will become a member of the management board and Diess will focus on strategy, the source said.

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