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New chairman and chief executive for Bentley
Dr Schreiber joins Bentley from his current role as CEO at Volkswagen Commercial Vehicles. He will commence his new position on September 1, 2012 and will succeed Wolfgang Dürheimer, who as part of an extensive structural and management realignment within the Volkswagen Group, moves to become the member of the Board of Management for Technical Development at Audi AG.
Chairman of the Board of Management of Volkswagen AG, Professor Dr Martin Winterkorn, commented: 'Dr Schreiber and Mr Dürheimer have one important thing in common: they are both thoroughbred engineers and represent the technical expertise of Volkswagen Group. This is why I am absolutely certain that Dr Schreiber is the right man to continue the successful strategy at Bentley.'
Speaking about his new role, Dr Schreiber said: 'I am looking forward to working with the whole Bentley team to implement and further develop the successful growth strategy. The Continental GT, the Flying Spur and the Mulsanne are unique British luxury cars that appeal to an increasing number of customers around the world. We will work hard to bring the Bentley SUV from concept stage into series production and thus establish a third successful model line for the company.'
During 2011, Bentley generated operating profits of €8m and managed to increase sales by 36.9%, helping to maintaining a strong position in the luxury segment. The automaker is also preparing for success throughout the rest of the year, having recorded an operating profit of €15m and a 47% increase in sales in the first quarter of 2012.