Some big moves are happening at BMW as its CEO Norbert Reithofer will step down and he will be replaced by Harald Krueger, company’s current production chief. For those who don’t know, Norbert Reithofer has run BMW since 2006 and he will succeed Joachim Milberg as chairman of the company’s supervisory board.
In a statement, BMW said that Krueger’s appointment will take effect on May 13, 2015, while Reithofer will be will be put forward for election as supervisory board chairman. According to BMW, this decision is a step to initiate a generational change at the head of the board of management.
"The automotive industry is undergoing a fundamental shift. Those who want to play an active role in shaping tomorrow’s mobility need constantly to find viable solutions to future challenges. The BMW Group plans to maintain its leading role in the premium segment. To achieve this, we have to hand over responsibility to the next generation at an appropriate time,” explained Prof. Milberg on Tuesday, after the Supervisory Board meeting in Munich. [source: BMW]