The Board of Directors of ACEA, the European Automobile Manufacturers' Association, has elected Christian Streiff as its new President. Streiff, CEO of PSA Peugeot Citroën, will take over from Sergio Marchionne, CEO of Fiat, on 1 January 2008. Marchionne has been ACEA President since 2006.

"I am honoured to be ACEA's next president and look forward to representing the industry in the ongoing dialogues on important societal topics such as growth and mobility, road safety and climate change", said Streiff, having thanked Mr Marchionne for his drive and efforts over the past two years. "We will further intensify our contacts with EU legislators. The European automotive industry plays an important role in Europe and needs a sound regulatory framework in which to operate."

"It has been a privilege chairing ACEA", added Marchionne. "It is extremely important for our industry to speak with a united and clear voice on key issues. ACEA provides us with a platform to share and communicate our common long-term priorities. The automotive industry is one of the most regulated sectors. Industry and legislators have to work closely together to find the right solutions and safeguard employment and growth in Europe."

A French national, Christian Streiff was born in Sarrebourg in 1954. He has a background in engineering from the "Ecole des Mines de Paris". From1994 to1996, he was General Manager of Saint-Gobain Emballages. He moved to Pont-à-Mousson as President and CEO in 1996, taking over as President and CEO of the High Performance Material Division of Saint-Gobain in Paris in 2001. In 2004, he became Deputy Chief Executive Officer of Saint-Gobain. In 2006, he became President and CEO of AIRBUS. In November 2006, he joined PSA Peugeot Citroën and was appointed Chairman of the Managing Board in February 2007.

ACEA represents the thirteen major European car, truck and bus manufacturers. They produce 18 million vehicles per year, provide direct employment to 2.3 million people and support the jobs of another 10 million workers. The ACEA Board consists of all CEOs of the thirteen member companies: BMW Group, DAF Trucks, Daimler, FIAT, Ford of Europe, General Motors Europe, MAN Nutzfahrzeuge, Porsche, PSA Peugeot Citroën, Renault, Scania, Volkswagen and Volvo Trucks. Toyota Motor Europe will join ACEA from January 2008.