finance.yahoo.com

Volkswagen Supervisory Board to Vote on Turnaround Plan Amid Opposition

Volkswagen logoVolkswagen
Sig3.35Sen-2.25Env0.00Soc-1.37Gov-3.27

Volkswagen’s supervisory board will meet on September 4 to discuss and vote on the company’s biggest turnaround plan, a 40-point restructuring proposal that previously faced rejection. The September 4 vote is backed by Lower Saxony and the works council, but management could seek an extraordinary shareholder meeting as early as October and potentially use Article 111 to bypass the blocking minority.

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