Emerging reports from the German press suggest that Bernd Pischetsrieder is being considered as a top candidate to lead automotive supplier Continental. The veteran automotive industrialist was chairman of BMW for most of the 1990s and then of the Volkswagen group until three years ago, but continued until two years ago as chairman of VW's truck subsidiary Scania AB. Pischetsrieder is remembered for directing BMW's ill-fated acquisition of the Rover group, but was conversely credited with the cr
If Opel makes it out of the General Motors era alive, its dealers want a bigger say in its recovery as an independent automaker. And by a bigger say, they mean taking a 20% stake in the company – and along with it, a new CEO. One of the candidates being touted as a potential new chief executive for a resurgent, independent Opel is none other than Bernd Pischetsrieder.
It's no secret that Wolfgang Bernhard, the VW brand's head honcho, is not happy with the fact that current VW Group Chairman Bernd Pischetsrider is resigning at the end of the year. Pischetsrieder was one of the major players involved in bringing Bernhard over from DaimlerChrysler and tasking the dapper executive with VeeDub's turnaround. Adding salt to the wound is who was chosen to replace Pischetsrieder as the Chairman of the VW Group – Martin Winterkorn, Bernhard's counterpart at Audi
The earliest reports on the "resignation" of Volkswagen group CEO Bernd Pischetsrieder indicated that while he'd be replaced as chief executive, he would be retained to take on "special assignments". What such ambiguous duties might entail was a mystery, but it's looking like he may be put in charge of managing a merger between two major European truck companies.
Bernd Pischetsrieder can go home and breathe a huge sigh of relief -- his contract was unanimously renewed by Volkswagen AG's board of directors, giving him another crack at the chief executive job at the automaker through 2012. The news comes just before the annual meeting, and not a moment too soon-- with union problems, revenue issues and scandals plaguing the automaker, let's just say he's probably feeling fortunate about his newfound job security.
The two-day meeting of Volkswagen's supervisory board ended with the subdued endorsement of CEO Bernd Pischetsrieder (at right) and his ForMotion restructuring plan, with a pronouncement by chairman Ferdinand Piech approving a five-year extension to Pischetsrieder's contract seemingly likely.
As Volkswagen's supervisory board heads into a key meeting Wednesday, the future of CEO Bernd Pischetsrieder and his aggressive ForMotion restructuring plan is increasingly in doubt.