June 8, 2020 / 1:33 PM / 2 months ago

EXCLUSIVE-Volkswagen supervisory board to discuss VW brand leadership -sources

* VW supervisory board to discuss leadership of VW brand -sources

* Herbert Diess may relinquish management of VW brand -sources

* Diess to retain position as group CEO - sources (Adds background)

FRANKFURT, June 8 (Reuters) - Volkswagen’s supervisory board will discuss the leadership of the company’s core VW brand at an extraordinary meeting due to be held on Monday, sources familiar with the discussions told Reuters.

The leadership discussion at helm of the world’s largest carmaker comes at a time when the German carmaker is attempting to push through painful cost cuts at the VW brand with the company’s powerful labour representatives.

Chief Executive Herbert Diess, who has embarked on radical reforms of the multi-brand carmaker, may relinquish his leadership of the VW brand but retain his position as group CEO, the sources said.

Volkswagen declined to comment. (Reporting by Edward Taylor and Jan Schwartz; Editing by Mark Bendeich and Maria Sheahan)

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