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AutomotiveBusiness & Finance

Reuters first to report powerful works council head to leave Volkswagen supervisory board

Reuters clients got a 20-hour head start on news that Volkswagen’s powerful labor leader Bernd Osterloh was resigning from his seat on the supervisory board to take on a management position at VW‘s truck unit Traton. Osterloh’s departure effectively removes Volkswagen CEO Herbert Diess’ fiercest adversary and recalibrates the balance of power at the world’s second-largest carmaker, paving the way for tougher reforms that Osterloh prevented in the past. It also comes at a pivotal time for the group, which has set itself a 2025 deadline to overtake Tesla as the global leader in electric vehicles. Major media outlets in Germany followed with their own stories, citing Reuters. The move was confirmed by VW and Traton a day later.

Article Tags
Topics of Interest: AutomotiveBusiness & Finance
Type: Reuters Best
Sectors: Business & FinanceEquities
Regions: EuropeGlobal
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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