VW CEO goes from thrilling investors to making enemies at home

Missed targets and suggestions of massive job cuts have seen the mood darken at the German carmaker.

Herbert Diess, CEO of Volkswagen AG (VW), speaks during a Bloomberg Television interview at the IAA Munich Motor Show last September.

What should have been a routine Volkswagen AG board meeting this week to approve its spending plans has turned into a de-facto referendum on the leadership of CEO Herbert Diess.

Last March, Mr Diess enthralled investors with his vision for turning into the global leader in electric cars.