Daimler to name ex-BMW CEO Pischetsrieder to supervisory board, report says

Pischetsrieder was also VW Group CEO from 2002 until 2006.
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FRANKFURT (Reuters) -- Daimler will name Bernd Pischetsrieder, a former CEO of rival carmaker BMW, to its supervisory board as it seeks to add managers with knowledge of the automotive industry, Germany’s Handelsblatt reported today.

Pischetsrieder was BMW CEO from 1993 to 1999 and later headed Volkswagen Group.

After leaving BMW Group, Pischetsrieder was head of VW's Spanish unit, Seat, and a member of the VW Group management board responsible for quality management from 2000 to 2002. In 2002, he succeeded Ferdinand Piech as group CEO and Piech was promoted to chairman of VW. In late 2006, Pischetsrieder left the company due to a conflict with Piech. Pischetsrieder was replaced by Martin Winterkorn, who still heads the group.

New Siemens CEO Joe Kaeser and Bernd Bohr, the former chief of automotive supplier Robert Bosch's car parts division, will also be added to the board next year, Handelsblatt said, citing sources close to the supervisory board.

The three prominent German managers are to replace former Philips CEO Gerard Kleisterlee, former General Electric Vice Chairman Lloyd Trotter and former Dresdner Bank CEO Bernhard Walter, who are due to retire from the board next year, the paper said.

Daimler will seek shareholder approval of the new appointments at its annual shareholders' meeting on April 9, the report added.

Daimler was not immediately available for comment.

Automotive News Europe contributed to this report

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