New duties for Pischetsrieder?

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Reuters
November 13, 2006 - 12:01 am ET
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.

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