Jul 10, 2021 - 04:47 pm

Herbert Diess contract extended until 2025

volkswagen-iaa-2019-herbert-diess-min

Herbert Diess will remain Chairman of the Board of Management of the Volkswagen Group until October 2025. On Friday, the supervisory board approved an extension of his contract, which previously ran until April 2023.

Last year, Herbert Diess’ request for an early extension of his contract was rejected by Bernd Osterloh, then head of the works council. Nevertheless, he received “unrestricted support” for the restructuring of the company.

Originally, his contract would have expired in April 2023. It was not until the third attempt that the contract was extended to October 2025. As the “Automobilwoche” writes, Diess is thus also exceeding the age limit of 65 years that actually applies at VW. A “two-thirds majority in the supervisory board” was required for an “exemption. According to “Automobilwoche”, this could not be achieved without the consent of the employee representatives.

The Group Executive Board also presented the strategy to the Supervisory Board under the heading ‘New Auto’, with which the Group intends to assert its global leadership role in a mobility world shaped by e-mobility and software.

“Dr. Herbert Diess and his Board of Management team have worked with employee representatives to successfully advance the transformation of the Group over the last few years. The Supervisory Board believes that under the leadership of Dr. Diess conditions will be optimal for the continued successful development of the entire company in the coming years as well, especially in view of Strategy 2030,” explained Hans Dieter Pötsch, Chairman of the Supervisory Board.

“To tap into the new value drivers and ensure profitable growth, the Group is relying on the strength of its brands on the one hand and technology platforms on the other. Standard platforms for software and vehicle mechatronics are to provide benefits in terms of costs and quality as well as economies of scale in the same way as a cross-brand battery and recharging strategy and a mobility platform,” the company writes. The strategy will be presented to the public on 13 July.

reuters.com, volkswagen-newsroom.com

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Found on electrive.com
https://www.electrive.com/2021/07/10/herbert-diess-contract-extended-until-2025/
10.07.2021 16:34