BMW CEO Krüger will not seek second term in 2020
The Chairman of the Board of Management of BMW AG, Harald Krüger, gave notice last Friday that he will not seek a second term of office. Krüger will normally still be in office until April 2020.
“The BMW Group has been my professional home for more than 27 years. After more than ten years in the Board of Management, more than four of which as the CEO of the BMW Group, I would like to pursue new professional endeavours and leverage my diverse international experience for new projects and ventures,” said Krüger.
Harald Krüger assumed the position of Chairman of the Board of Management of BMW AG from Dr. Norbert Reithofer, now Chairman of the supervisory board of BMW Group, on 13 May 2015.
As Chairman, Krüger further strengthened the significance of strategic partnerships – particularly in the area of breakthrough technologies, such as highly automated driving. Additionally, the BMW Group has merged its mobility services under the entity YOUR NOW and was also looking for collaboration deals.
The BMW Group also increased its role as a global player and, as the first international company, will be able to increase its share in its Chinese joint venture, BMW Brilliance Automotive, to 75%.
Nevertheless, the CEO has endured some criticism too. Internally there were doubts about Krügers’ strategy. BMW, once at the forefront of electrification with i3 and i8, has too long hesitated about its electric strategy afterwards.
Furthermore, there were problems with recalls, BMW models catching fire, allegations of fraud in the wake of dieselgate. And as sales still boomed, the benefits didn’t meet investors’ expectations. That’s why BMW has recently launched a big austerity plan.
According to the newspaper Frankfurter Allgemeine Zeitung, Oliver Zipse, the current Head of Production at BMW Group, has the biggest chances to become the new CEO. The matter will be discussed at the next BMW Supervisory Board on the 18th of July.