BMW of North America has made several changes to its executive management team led by president and chief executive Ludwig Willisch. The changes take effect September 1. BMW of North America Chief Financial Officer Stefan Sengewald will be returning to BMW Group headquarters in Germany to serve as Senior Vice President responsible for organizational development and process management.
Sengewald has held vital financial positions since joining BMW in 1987 like Assistant Finance Director for BMW Spain and Director Finance and Administration for BMW Mexico. He was named as chief financial officer BMW of North America in 2009.
Sengewald will be replaced by Stefan Walmrath, who currently serves as Vice President of Strategic Planning in Munich in charge of the long-range business plan of the BMW Group.
Featuring over 20 years in the automotive business, Walmrath boasts of a deep and extensive knowledge of finance, strategy development and implementation. Stefan previously served as chief financial officer of BMW Group France and chief of Sales Controlling in Munich.
He was most recently active in the process of selecting a site for the new BMW Mexico plant in San Luis Potosi and in development of business strategies for the United States market.
Willisch welcomed Walmrath as BMW of North America’s new CFO, saying the position is a critical leader in sustaining the momentum and success of the BMW Group in the Americas. [source: BMW]