Piech takes on ACEA presidency

Monday, 25 January 1999

DR FERDINAND Piech, chairman and chief executive of Volkswagen AG, has been elected president of the European Automobile Man-ufacturers Association (ACEA) for 1999.

ACEA rotates its presidency and Piech is taking over from an arch rival, the BMW chairman Bernd Pischetsrieder.

The two squared off last year over the acquisition of Rolls Royce-Bentley and Pischetsrieder won the rights to sell Rolls at a knock down price while Piech paid ten times as much for Bentley alone.

Piech started his career in engine testing with Porsche before moving to VW and climbing the corporate ladder to his present position where he has built VW group into Europe's largest car maker.

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