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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Exclusive: VW's executive committee to convene Tuesday to discuss CEO's future - sources

11/30/2020 | 06:17am EST
FILE PHOTO: VW shows electric SUV

HAMBURG (Reuters) - Volkswagen Group's executive committee is convening on Tuesday to discuss Chief Executive Herbert Diess's demand for a contract extension, three sources familiar with the matter told Reuters on Monday.

"The options will be put on the table," one of the sources said, adding that the outcome of the deliberations remains unclear.

Volkswagen declined to comment.

Reuters reported on Friday that Diess had asked the families who control a majority voting stake in Volkswagen to back extending his contract as a vote of confidence in his leadership.

Diess' has encountered opposition from the board to his efforts to reform the multi-brand car and truck maker and he may review his position if his attempts continue to be stifled, according to a person familiar with the matter.

Diess was appointed head of the VW brand in 2015 and group chief executive in April 2018. His contract is due to expire in 2023 and German companies tend to deliberate over contract extensions only a year before they expire.

The company's executive committee is chaired by Hans Dieter Poetsch, and includes Wolfgang Porsche and Hans Michel Piech, as well as VW's labour chief Bernd Osterloh and Lower Saxony premier Stephan Weil.

(Reporting by Jan Schwartz; Writing by Edward Taylor; Editing by Christoph Steitz and Carmel Crimmins)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
PORSCHE AUTOMOBIL HOLDING SE 2.73% 58.66 Delayed Quote.1.28%
VOLKSWAGEN AG 2.66% 156.82 Delayed Quote.0.25%
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Financials
Sales 2020 218 B 264 B 264 B
Net income 2020 4 371 M 5 289 M 5 289 M
Net cash 2020 22 728 M 27 496 M 27 496 M
P/E ratio 2020 17,6x
Yield 2020 1,94%
Capitalization 80 493 M 97 567 M 97 379 M
EV / Sales 2020 0,26x
EV / Sales 2021 0,23x
Nbr of Employees 664 196
Free-Float 56,8%
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Technical analysis trends VOLKSWAGEN AG
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 25
Average target price 176,53 €
Last Close Price 152,80 €
Spread / Highest target 61,6%
Spread / Average Target 15,5%
Spread / Lowest Target -8,38%
EPS Revisions
Managers and Directors
NameTitle
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Deputy Chairman
Bernd Osterloh Member-Supervisory Board
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