BMW denies chief is under threat
Saturday 30 January 1999
THE QUANDT family which controls German carmaker, BMW, yesterday denied reports that Bernd Pischetsrieder, chief executive of the company, was under pressure to quit because of the poor performance of Rover, its British subsidiary. The reports surfaced as Mr Pischetsrieder explained in his annual letter to shareholders why Rover sustained losses last year estimated at up to DM1bn (pounds 360m). He said that Rover's competitive position had deteriorated.
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