New duties for Pischetsrieder?
HAMBURG, Germany --
Volkswagen AG's supervisory board will decide on Friday, Nov. 17, whether to put outgoing CEO Bernd Pischetsrieder in charge of the group's push for a European truck merger, a board source said last Friday. The company declined to comment on whether Pischetsrieder's new duty within the group will be to help make a deal between German truckmaker MAN and Swedish rival Scania.
VW is the largest shareholder of both companies. MAN wants to buy Scania for about $13.39 billion in cash and stock, but the Scania management team has resisted all advances.
Pischetsrieder repeatedly has called for a deal. VW has given the two companies until Friday to strike an accord.