VW Hiring Former BMW Chief Executive

Germany’s Volkswagen said it will hire former BMW Chief Executive Bernd Pischetsrieder as head of quality control and VW’s SEAT unit. VW, Europe’s largest auto maker, said it will ask its supervisory board to name Pischetsrieder to its management board under a five-year contract starting July 1. BMW said it released Pischetsrieder, 51, from his contract so he could join Volkswagen. BMW replaced Pischetsrieder with Joachim Milberg in February after Pischetsrieder failed to stem losses at BMW’s Rover unit in Britain. Pischetsrieder spent 26 years at BMW, joining the company as an engineer in 1973.