Volkswagen plans board revamp, cutting down seats from 12 to nine
Volkswagen is reportedly planning a revamp of its executive board, trimming the total seats from 12 to nine.
People close to the matter told Reuters the move was brought up last night during a board meeting but it is yet to be finalised.
According to sources, procurement and sales will be the positions removed during the reshuffle.
Volkswagen declined to comment.
The news comes ahead of Porsche boss Oliver Blume taking over from Herbert Diess as the group’s chief executive.
Diess stepped down on 22 July after four turbulent years – plagued by the pandemic and semiconductor shortages as well as rows with unions – at the helm of the marquee.
The decision to have Blume head both Porsche and Volkswagen initially raised a few eyebrows, as investors believed it might hurt Porsche’s float.
Volkswagen chief financial officer Arno Antlitz said in late July the listing continued “with more emphasis than before,” Morning Wire reported.