Volkswagen of Brazil to Get New President

10/16/96

Reuters has reported that Volkswagen AG's Brazilian subsidiary will announce a new president by year-end. The news agency cited a report in the Jornal do Brasil newspaper which said Volkswagen do Brasil's current president, Pierre Alain-De Schmedt, is being transferred to Spain.

Alain-De Schmedt went to Brazil in 1991 to assume the presidency of Autolatina, a now defunct joint venture between Ford and Volkswagen. Alain-De Schmedt led Volkswagen do Brasil to double the number of its plants (from two to four) and to start producing trucks. Alain-De Schmedt is expected to take over Spain's Seat by the end of the year.

Volkswagen has not officially announced a replacement for Alain-De Schmedt. but some analysts speculate that Dit will be Jose Ignacio Lopes de Arriortua, Volkswagen AG's world counsel.

Volkswagen do Brasil officials were not immediately available to confirm the report.

Paul Dever -- The Auto Channel