• Former BMW executive Duesmann named new CEO at rival Audi

    BERLIN (AP) - German automaker Audi says former BMW executive Markus Duesmann is to become its new chief executive.

    Audi said Friday that the 50-year-old succeeds current CEO Bram Schot on April 1.

    Herbert Diess, the head of Volkswagen, of which Audi is a part, called Duesmann an "excellent engineer."

    Audi has struggled to keep up with rivals BMW and Daimler in recent years.

    Next Up: