VW’s supervisory board to discuss contract extension for CEO – source

HAMBURG (Reuters) – Volkswagen (DE:VOWG_p)’s supervisory board will discuss a contract extension for chief executive Herbert Diess at an extraordinary meeting on Wednesday, a source familiar with the deliberations told Reuters.

VW’s supervisory board has sought to avoid a discussion about the contract extension, as a way to defuse a leadership crisis at the world’s largest carmaker, two people familiar with the matter told Reuters earlier this week.

But CEO Diess is forcing the issue, prompting the company’s supervisory board to meet early, the source said.

VW was not immediately reachable for comment.