12:00 - 29.08.2026

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August 29, Fineko/abc.az. The Supervisory Board of Europe's largest automaker, Volkswagen, will convene on September 4 to discuss and vote on management's major restructuring plan.

Management aims to double job cuts, potentially close factories, and spin off certain divisions. However, labor representatives and the state of Lower Saxony, who hold a majority of 12 seats on the board, strongly oppose layoffs and plant shutdowns.

If the plan is rejected on September 4, management could call an extraordinary general meeting (EGM) in October to put the strategy directly to investors. At a shareholder meeting, Lower Saxony holds a 20% voting stake, while Porsche SE, Qatar, and other investors hold the remaining 80%. Management could invoke Article 111 of Germany's Stock Corporation Act to approve the decision with a 75% majority, effectively bypassing the board's resistance.