Equities

Reuters first with key Volkswagen news; market reacts

Reuters first with key Volkswagen news; market reacts

Volkswagen shares fell on Monday after Reuters was first to report that the carmaker had convened a supervisory board meeting to discuss changes to the leadership of its core VW brand and that Volkswagen Group Chief Executive Herbert Diess may have to relinquish his position as VW brand CEO. Volkswagen confirmed the news to investors in a statement issued three hours later. Reuters coverage also included exclusive details outlining Ralf Brandstaetter as a front-runner to take on the job as VW brand CEO and that Volkswagen board member Stefan Sommer would leave the company.