Street Calls of the Week
Investing.com -- Volkswagen (ETR:VOWG) has scheduled an extraordinary meeting of the executive committee of its supervisory board on Friday, according to a report by Sueddeutsche Zeitung (SZ) newspaper.
The meeting comes as German media reported earlier on Friday that Oliver Blume, who currently serves as CEO of both Volkswagen and Porsche, will step down from his position at the luxury car subsidiary next year.
If confirmed, this move would end Blume’s dual leadership role that has been a source of concern for investors, particularly during a challenging period for both automotive companies.
Blume has been managing both positions simultaneously, with the arrangement drawing scrutiny from market participants worried about the effectiveness of split leadership during difficult times for the automakers.
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