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BMW Names New CEO

BMW announced that 49-year-old Harald Krueger will replace Norbert Reithofer as CEO.

Reithofer, 58, who ran BMW since 2006, will step down as CEO ahead of when his contract is set to expire in 2016 to replace 71-year-old Joachim Milberg as chariman of the supervisory board. Krueger will leave his role as the head of production to become CEO on May 13, 2015.

BMW said in a statement today that the decision marks a step “to initiate a generational change at the head of the board of management.

Industry analysts are looking favorably on the choice for early change because it will help clarify the future direction for BMW.

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Filed under: BMW German
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