BMW has made some big changes in the top management at the Munich headquarters of the company. Referring it as 'a generational change' in its leadership, BMW reshuffled not one, but many top ranks at the Bavaria. The changes include naming the new CEO/ Chairman of BMW's management board, chairman of the BMW's supervisory board and new head of the BMW development.
The biggest change is that of a new chairman of BMW's management board, or in layman's term, the company's CEO. Harald Krüger, is announced as the future CEO of the company, replacing Dr. Norbert Reithofer. Kruger will take the charge at the end of the company's Annual General Meeting on May 13, 2015. Working for the BMW since 1992, the 49-year-old mechanical engineer first sat on the BMW's board in 2008, and has until now been responsible for production for the entire BMW Group.
Dr. Norbert Reithofer, who is the current chairman, will be moving ahead to be the chairperson of the supervisory board or in other words, will head the board of directors. The current chairperson of the supervisory board is held by Professor Joachim Milberg, who will look after the corporate social responsibility and charitable activities of the BMW.
"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," said Prof. Milberg.
In other changes, BMW also announced Klaus Fröhlich to be the new head of development effective immediately. Frohlich will replace Dr. Herbert Diess, who will look after the Volkswagen passenger car division from now on.