Volkswagen supervisory board unanimously approves management restructuring
Volkswagen’s supervisory board unexpectedly and unanimously approved management’s restructuring, according to Citi analysts. Citi cites German plant competitiveness and limited global revenue opportunities.
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05:59:59 AM UTC
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Volkswagen's transformation plan has been approved by the supervisory board, which should be positively by the market received when shares resume trading today, Bernstein analysts write. "Especially the planned reduction in forward capital expenditure and research and development by 16%," the bank…
Volkswagen's supervisory board unexpectedly and unanimously approved management's "brave" restructuring, which is a realistic decision for all concerned, Citi analysts write.
The bank says that given Volkswagen's German plant competitiveness and lack of global revenue opportunities, the company sim…