Germany's Lower Saxony state premier to stand down in May, several media report
BERLIN (Reuters) - Veteran German Social Democrat (SPD) Stephan Weil will stand down as premier of the state of Lower Saxony in May after 12 years in office, several German media, including local broadcaster NDR, reported on Tuesday.
The state of Lower Saxony owns 11.8% of shares in Volkswagen and has 20% voting rights. The state has a big influence on the company due to a special law which effectively gives it a blocking minority.
The plans come as the SPD are in talks with Friedrich Merz's conservatives to form a coalition on the national level. Elections in the state are due in autumn 2027.
A spokesperson for Weil, 66 years old, had no immediate comment.
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