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VW's Porsche-Piech clan backs brand chief despite criticism -sources
February 24, 2017 / 10:22 AM / 9 months ago

VW's Porsche-Piech clan backs brand chief despite criticism -sources

HAMBURG, Feb 24 (Reuters) - Volkswagen’s embattled VW brand chief Herbert Diess still has the backing of the clan that controls the carmaker, despite his recurring clashes with labour leaders over cost-cutting plans, sources said.

Volkswagen’s (VW) labour bosses earlier this month had accused Diess of breaking promises made under a turnaround plan agreed in November and halted cooperation with brand management on issues including overtime work, cost savings and apprenticeships.

But the Porsche and Piech families, which control a majority of VW common stock through the family-owned holding company Porsche SE, stand behind the 58-year-old engineer despite the quarrelling, two people familiar with the matter told Reuters on Friday.

VW declined comment. (Reporting by Jan Schwartz; Writing by Andreas Cremer; Editing by Maria Sheahan)

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