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Oil On A 4-Week Losing Streak

Reuters

VW board committee to discuss CEO’s future on Tuesday – sources

HAMBURG (Reuters) -Volkswagen’s supervisory board executive committee will meet on Tuesday to discuss the future of Chief Executive Herbert Diess, who is likely to remain at the helm of the carmaker despite tensions over his management style, sources said on Monday. It was not clear whether any decision would be made at Tuesday’s meeting, to be attended among others by works council head Daniela Cavallo and representatives of the majority shareholder families, Hans Michel Piech and Wolfgang Porsche, the sources with knowledge of the negotiations said. But any decision would come before a Dec. 9 supervisory board meeting to discuss Volkswagen’s five-year spending plan, they added, declining to be named due to the sensitivity of the matter.

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