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      12-09-2014, 10:00 AM   #1
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Post Harald Krüger Named New BMW CEO; Reithofer to be Chairman

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Krüger Named New BMW CEO; Reithofer to be Chairman
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Harald Krüger to become Chairman of the Board of Management in May 2015

Dr. Norbert Reithofer proposed to succeed as Chairman of the Supervisory Board

Prof. Joachim Milberg to take leading role in the BMW Group's worldwide CSR activities and charitable foundations

Klaus Fröhlich appointed to Board of Management with responsibility for Development

Munich .
At its meeting today, the Supervisory Board of BMW AG took the first steps to initiate a generational change at the head of the company's Board of Management and Supervisory Board. Harald Krüger will become Chairman of the Board of Management effective the end of the Annual General Meeting on 13 May 2015. The current Chairman of the Board of Management, Dr. Norbert Reithofer, will be put forward for election to the Supervisory Board at the 2015 Annual General Meeting. Moreover, the Supervisory Board expressed its support for the proposal that Dr. Reithofer – subject to his election to the Supervisory Board – be elected to the position of Chairman of the Supervisory Board after the 2015 Annual General Meeting.

The current Chairman of the Supervisory Board, Prof. Joachim Milberg, will step down as a member of the Supervisory Board effective the end of the 2015 Annual General Meeting. This move enables a generational change also at the head of this body. Once his mandate on the Supervisory Board is ended, Prof. Joachim Milberg will take on a leading role connected with the BMW Group's worldwide CSR activities and charitable foundations.

"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.

Generational change ensures continuity and strategic vision

On Tuesday, the Supervisory Board meeting chaired by Prof. Milberg – in agreement with the Nomination Committee and shareholders holding in aggregate more than 25 percent of the voting rights in BMW AG – requested the current Chairman of the Board of Management, Dr. Reithofer to stand for election to the Supervisory Board at the Annual General Meeting on 13 May 2015.

"With today's decision and recommendation for the positions of Chairman of the Board of Management and Chairman of the Supervisory Board, we have taken the first steps for a generational change, which combines the need for continuity and experience with the creative energy of the younger generation,” commented Stefan Quandt, Deputy Chairman of the Supervisory Board, after the meeting. "We are convinced that this combination will be a decisive factor for the future success of the BMW Group – in the interests of customers, employees and shareholders alike.”

Manfred Schoch, Chairman of the General Works Council and Deputy Chairman of the Supervisory Board, stated in Munich, “The excellent spirit of cooperation between the Works Council and company management represents a long tradition at the BMW Group and is one of the underlying reasons for our success. We want to maintain this relationship through the generational change and thus play a continuing role in jointly shaping the BMW Group's future."

The designated Chairman of the Board of Management, Harald Krüger (49), joined BMW AG in 1992, following completion of his degree in mechanical engineering, and has been a member of the board since 1 December 2008 when he was given responsibility for Human Resources. On 30 June 2012, he took over responsibility for MINI, Motorrad, Rolls-Royce and Aftersales BMW Group. Since 1 April 2013, he has been responsible for Production at the BMW Group.

Dr. Reithofer (58) joined BMW AG in 1987 and has been a member of the Board of Management since March 2000. He was responsible for Production until September 2006, when he became Chairman of the Board of Management of BMW AG. In this capacity, he played a key role in spearheading the company’s new strategic direction through Strategy Number ONE. This included the successful expansion of the BMW Group's product and service portfolio, significantly larger international sales and production networks and a firm commitment to electromobility in the form of the innovative brand, BMW i.

In the words of Prof. Milberg, “During his time as Chairman of the Board of Management, Mr. Reithofer has raised the BMW Group's performance to new heights, extended the company's lead in the premium segment and, at the same time, taken steps to ensure that the company is strategically prepared for the future. All of these achievements deserve genuine appreciation."

The Chairman of the Supervisory Board, Prof. Milberg (71), has accompanied BMW AG's progress over the past two decades in various functions. He joined BMW AG in November 1993 as board member responsible for Production. In February 1999, Prof. Milberg was appointed to the position of Chairman of the Board of Management of BMW AG. He was elected to the Supervisory Board in May 2002 and became its Chairman in May 2004. The Supervisory Board extended Prof. Milberg's mandate as Supervisory Board Chairman most recently in May 2013.

With immediate effect, Klaus Fröhlich (54) is the new member of the Board of Management with responsibility for Development. This appointment was also decided at today's meeting of the Supervisory Board. Klaus Fröhlich has been with the BMW Group since 1987, during which time he has held various executive management functions. Most recently, he was in charge of the Small and Mid-sized Series Product Line. His predecessor on the board, Dr. Herbert Diess, has left the company of his own accord.

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      12-09-2014, 10:21 AM   #2
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Bout time.


New ideas, concepts and designs will hopefully come from this.

Hopefully better than a G11 interior that is essentially an updated F01 dash with an Ipad stuck in the top
and added leather on more surfaces to make it nicer.

That is not new or bold.


-Bond
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      12-09-2014, 10:31 AM   #3
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      12-09-2014, 10:35 AM   #4
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Quote:
Originally Posted by MI6 View Post
Bout time.


New ideas, concepts and designs will hopefully come from this.

Hopefully better than a G11 interior that is essentially an updated F01 dash with an Ipad stuck in the top
and added leather on more surfaces to make it nicer.

That is not new or bold.


-Bond
I doubt he's going to do much differently...

Dr. Reithofer (58) joined BMW AG in 1987 and has been a member of the Board of Management since March 2000.
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      12-09-2014, 10:38 AM   #5
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Quote:
Originally Posted by MI6 View Post
Bout time.


New ideas, concepts and designs will hopefully come from this.
Ohh yeah right, cause BMW under Reithofer has been such a boring company without ideas since 2006.
Strategy Number ONE, BMW i, "Modelloffensive", just to mention three really large topics.
And regardin design... since 2006 also means both Bangle and van Hooydonk as head of design. And wheter you like it or not, Bangle was bold and new with his designs and van Hooydonk later used them as a basis to bring the design of most Fxx model to perfection.

edit:
Interestingly Harald Krüger (english speaking people please use "ue" instead of just "u" for "ü") and Reithofer both where COO before they were promoted to CEO.
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      12-09-2014, 10:44 AM   #6
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Is it just me, or has there been a lot of top level movement at BMW lately? Seems a bit disconcerting...
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      12-09-2014, 10:55 AM   #7
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Quote:
Originally Posted by Aspe View Post
"Modelloffensive"
What is that, the 5GT?

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      12-09-2014, 10:59 AM   #8
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Quote:
Originally Posted by yousefnjr View Post
What is that, the 5GT?

Nah, that rear was just plain offensive.

Sorry. I was too lazy to think about a proper translation for "Modelloffensive". Well actualy "model offensive" should work. The huge increase in new models and derivatives over the past few years is being summed up under this term.
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      12-09-2014, 11:01 AM   #9
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Quote:
Originally Posted by MI6
New ideas, concepts and designs will hopefully come from this.

-Bond
+1

"Generational change ensures continuity and strictic vision."

I like this statement, and mind set!!!


*Can anyone address that on this App I can not highlight any text to copy or to have Speech read it for me out-loud so I don't have to kill my eyes with these long informative posts?
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      12-09-2014, 02:45 PM   #10
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Impressive leadership team. My only additional question is whether they can all drive a 6MT?
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      12-09-2014, 03:10 PM   #11
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Sounds like this was planned a long time ago.
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      12-09-2014, 03:54 PM   #12
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BMW R&D Chief Moves to VW Group, Will Lead Volkswagen Cars

BMW has lost a true car guy and outstanding executive to Volkswagen. Herbert Diess, BMW’s board member for research and development, will take over from Martin Winterkorn as head of the Volkswagen brand on October 1, 2015. Winterkorn will carry on as chairman of the Volkswagen Group and thus oversee not only VW, but also Audi, Porsche, Bentley, Bugatti, Lamborghini, SEAT, and Škoda, as well as motorcycle manufacturer Ducati and truck makers Scania and MAN.

At BMW, Diess put emphasis on lightweight technology and downsized engines. He oversaw the launch of the i3 and i8 electric and hybrid vehicles, and he worked on a new generation of front-wheel-drive vehicles. His background is with motorcycles; the stunning S 1000 RR is his baby. Described as intense, impatient, and highly detail-oriented, Diess will fit right in with the engineering-driven culture at Volkswagen. Diess has personally owned supercars and is obsessed with high-speed vehicles. A BMW executive once told this writer: “He reminds me of Piëch.”


http://blog.caranddriver.com/bmw-rd-...lkswagen-cars/
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      12-09-2014, 04:37 PM   #13
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49 and chairman of board, wow.
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      12-09-2014, 05:45 PM   #14
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Quote:
Originally Posted by Aspe View Post
Ohh yeah right, cause BMW under Reithofer has been such a boring company without ideas since 2006.
Strategy Number ONE, BMW i, "Modelloffensive", just to mention three really large topics.
And regardin design... since 2006 also means both Bangle and van Hooydonk as head of design. And wheter you like it or not, Bangle was bold and new with his designs and van Hooydonk later used them as a basis to bring the design of most Fxx model to perfection.

edit:
Interestingly Harald Krüger (english speaking people please use "ue" instead of just "u" for "ü") and Reithofer both where COO before they were promoted to CEO.
Never said BMW was boring.

Many of their products are new and exciting- but their latest creation......the G11 should have just as bold of an interior as the tech is.

It is not inconceivable to make a toned down version of the Vision concept interior.

And yet they do not.

-Bond
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      12-09-2014, 07:37 PM   #15
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Sweet! Hopefully some overhaul changes will be made
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      12-09-2014, 07:43 PM   #16
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Hopefully he can help bmw 3-series become a car and drivers 10 best again (this is kinda sarcasm, but its kinda not)
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      12-09-2014, 07:51 PM   #17
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Nice! Eager to see if he has any new ideas
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      12-09-2014, 07:57 PM   #18
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Quote:
Originally Posted by antzcrashing View Post
Hopefully he can help bmw 3-series become a car and drivers 10 best again (this is kinda sarcasm, but its kinda not)


I think I'm fearful more than anything else about this young exec (relative to past BMW execs, he's still old to me ) is that he's going to be less about getting back to BMW's roots, roots that many arguably feel they have gotten away from, and move still farther from them. I hope this isn't the case. Having said this though, while the CEO and Chairman have a large say in the companies direction, they aren't the end all, be all of the company.

///Mikey
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      12-09-2014, 10:27 PM   #19
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Make no mistake, this was a surprise, bombshell announcement, along with the R&D head heading over to VW. This follows a series of higher than normal turnover in the senior management ranks of BMW.

A few have been watching some of the recent management changes and detected some hints of things being somewhat amiss. This pretty much corroborates some of those who have been connecting the dots.
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      12-10-2014, 12:43 AM   #20
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Interesting...let's see what comes from this.
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      12-10-2014, 03:55 AM   #21
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I guess he board room battles got too heated over active sound and electric steering, lol.
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      12-10-2014, 05:23 AM   #22
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I'm really surprised by the news.
I believe that Dr. Norbert Reithofer has done a great job and brought significant growth for the BMW brand.
Besides that BMW has made the most innovative car brand in the world!
I think the executives of the supervisory board, should tell you that would remain for a few more years.
But it is understood that these decisions are already taken and nothing can change now.
We will miss this man in press conferences salons automotive and Frankfurt also has great charisma and an attitude that inspires just one leader.
Good luck in your future plans Dr. Reithofer!

Thanks

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