Volkswagen to discuss new appointments to the management board

Volkswagen’s supervisory board is due to talk about reorganization of the company’s management board on Thursday, two people knowledgeable with the matter said on Tuesday, as the automaker seeks to defuse a leadership crisis.

CEO Herbert Diess this month demanded a vote of confidence in his reform efforts by asking stakeholders to support his proposals for management board appointments together with a contract extension for himself.

Supervisory board members want to avoid premature talks about giving Diess another term in office, but major directors have endorsed a discussion centred on his proposals for appointments to the management board.

Diess has attempted to install Arno Antlitz as the chief financial officer in order to replace Frank Witter, who is due to retire in June, and to hire Thomas Schmall as the management board member responsible for parts, replacing Stefan Sommer, who has already left the company, according to Reuters.