German Insurer Taps Ex-VW CEO as Chairman

Bernd Pischetsrieder, whose automotive career included stints as CEO of Volkswagen and BMW, has been appointed chairman of the supervisory board of German insurance company Munich Re Group.

Pischetsrieder, who has been a member of Munich Re's board since 2002, will take the new job on Jan. 1. He succeeds Hans-Juergen Schinzler, who will retire.

Pischetsrieder headed BMW from 1993 to 1999. He was pushed out after his acquisition of Rover Group soured. Pischetsrieder was VW's chief executive from 2002 to 2006, when he ran afoul of the company's powerful chairman, Ferdinand Piech.