BMW announced this morning that its existing CEO, Dr. Norbert Reithofer, will step down on Could 13, 2015, following the company’s Annual Common Meeting. Reithofer, who will be replaced by BMW insider Harald Krueger, will remain with the company as chairman of the supervisory board pending the outcome of a vote at the Basic Meeting.Reithofer, 58, joined BMW in 1987, serving as technical director for BMW South Africa and president of BMW Manufacturing in South Carolina prior to ascending to the company’s leading post in 2006. Most recently, Reithofer gave final approval of BMW’s Project i, the higher-tech skunkworks that developed the lightweight, low-expense carbon fiber composites and electric drivetrains that appear in the BMW i3 electric runabout and i8 hybrid supercar.
The automaker characterizes the prime-office switch-up as “the initial actions for a generational modify,” citing the “creative energy of the younger generation.” Reithofer’s successor as CEO is Harald Krueger, 49, who has served as BMW’s head of production since early 2013. Krueger has held positions with BMW in South Carolina, the U.K., and Munich, possessing joined the organization in 1992 as a technical trainee.
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BMW’s CEO Will Step Down in May
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