Carlos Ghosn Elected 2009 ACEA President

BRUSSELS, Belgium - December 5, 2008: The Board of Directors of ACEA, the European Automobile Manufacturers’ Association, has elected Carlos Ghosn as its new President. Carlos Ghosn, CEO of Renault, will take over from Christian Streiff, CEO of PSA Peugeot Citroën, on 1 January 2009.

“The global automotive industry is facing two significant challenges with a severe financial meltdown twinned with an economic recession, and a major transition to low-emission vehicles. In this context, an effective dialogue with EU institutions and governments is more important than ever”, said Carlos Ghosn, reflecting on the expected priorities of his term as ACEA President.

Carlos Ghosn reiterated the automotive industry’s call for normalisation of credits markets, financial support to strategic investments and a range of national incentives to boost the market. “It is vital that our industry can keep fulfilling its key role in Europe in terms of growth, investments, employment and technological leadership.”

"It has been a dynamic year for ACEA with the CO2-emission regulation for passenger cars on the top of the agenda as part of Europe's ambitious commitment to energy and climate-change management", added Streiff. "It is essential that ACEA continues to express a shared, clear and strong vision on the many issues affecting the automobile industry, especially at a time when it faces an unprecedented crisis."

About Carlos Ghosn
Carlos Ghosn joined Michelin in 1978 as Plant Manager in Le Puy (France), before being appointed Head of research and development for industrial tyres in Ladoux (France). He became Chief Operating Officer of Michelin's South American operations, then Chairman and Chief Executive Officer of Michelin North America in 1990. He joined Renault as Executive Vice President in 1996. He was appointed Chief Operating Officer of Nissan Motor in June 1999, President in 2000, Chief Executive Officer in 2001. Since May 2005, he is President and CEO of Renault and remains President and CEO of Nissan.

About ACEA
The European Automobile Manufacturers Association (ACEA), founded in 1991, represents the interests of the fifteen European car, truck and bus manufacturers at EU level.

The ACEA members are BMW Group, DAF Trucks, Daimler, FIAT, Ford of Europe, General Motors Europe, Jaguar Land Rover, MAN Nutzfahrzeuge, Porsche, PSA Peugeot Citroën, Renault, Scania, Toyota Motor Europe, Volkswagen and Volvo. They provide direct employment to more than 2.3 million people and support another 10 million jobs in related sectors. Annually, ACEA members invest € 20 billion in R&D, or 4% of turnover.