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Ferdinand Piëch regrets letting designer Schreyer leave for Kia

Posted Nov 12th 2012 5:30PM

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Volkswagen Group Chairman Ferdinand Piëch

Volkswagen Group Chairman Ferdinand Piëch has seen his fair share of executives leave the company's brands during his time at the helm, but according to Automotive News, he now openly regrets allowing Audi designer Peter Schreyer to go. During a rare interview – with an even rarer admission of fault – Piëch made it clear his company should not have let the talented designer head for Kia, saying plainly, "We should not have let him go." But that wasn't the only revelation. Piëch will remain in his current position for at least another five to seven years in order to usher in the next-generation Volkswagen Golf – this, despite the fact that he's 75 years old and has already been at the top of the company for 18 years.

More importantly, it appears as if VW isn't through snapping up brands. Piëch has mentioned his interest in Alfa Romeo in the past, and the chairman has said there's room in the stable for another nameplate that needs a little restructuring. Like most automakers, Alfa Romeo has struggled amidst the European recession, and its business picture wasn't exactly rosy before the economic downturn. Of course, that news runs contrary to reports we heard in September, when Volkswagen CEO Martin Winterkorn said his brand was done buying up other companies.

News Source: Automotive News - sub. req.

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