Volkswagen brand group chief Wolfgang Bernhard, pictured, is expected to decide whether he will stay or leave Europe's largest carmaker after a supervisory board meeting next week, sources familiar with the situation said yesterday.
Speculation has been rife that Bernhard, a former Chrysler executive who was brought to VW by dismissed group chief executive Bernd Pischetsrieder to lead a brand revamp, might leave the firm after a boardroom coup led by VW chairman Ferdinand Piech. VW's new chief executive Martin Winterkorn will inform key members of the supervisory board of his plans for a revamp and a management shake-up at a meeting next Wednesday, company sources said.
Bernhard would announce his decision to stay or leave after the meeting, several sources familiar with the situation said. "If you walk around the offices you can see that everybody is waiting for January 11th," said one of the sources, who comes from the company.
VW declined to comment, while Bernhard could not be reached for comment.
Investors and analysts have been concerned that if Bernhard departs, VW would lose its most credible guarantee that significant job and cost cuts will continue, after union-favourite Winterkorn of Audi was appointed as chief executive.
- Reuters