BMW Group CEO Oliver Zipse will not extend his contract beyond the summer of next year when it expires. The German Manager Magazin reported that he will stop mid-next year, citing a source familiar with the matter. “There will be no further contract extension,” the source is quoted.
Zipse, who will be 62 by then (born on the 7th of February 1964), must step down on age grounds. For top-level managers, BMW usually foresees a 60-year age limit.
BMW man
Zipse started at BMW as a trainee in 1991. He stayed in Munich and gradually climbed the hierarchical ladder to become a member of the board, head of production, and, finally, Chief Executive Officer in 2019.
In 2023, his mandate was prolonged, which was already an encore as he would surpass the age limit when retiring. The supervisory board president, Norbert Reithofer, stated at the time that this was a very exceptional decision in the history of the Munich car manufacturer.
Zipse’s role will thus end in 2026, but the chances are high that he will stay on the board longer in an advisory role.
Zipse will be remembered for its drive to launch the ‘Neue Klasse’, BMW’s all-new EV program, from which the first product will arrive in the market at the end of this year, and for its view of giving customers ‘the power of choice’ when it comes to choosing a drivetrain.
Zipse has never been betting on EVs completely. In his eyes, the customer has the right to choose what drive he wants to use. According to research by the International Council on Clean Transportation (ICCT), BMW is one of the most successful car manufacturers with its energy transition program until now.
Representing the industry
Oliver Zipse was also President of ACEA, the association of European car manufacturers, in 2021 and 2022. There, he had to defend the general view of the European car industry.
Zipse has been hot and cold regarding the fines for car makers that can’t comply with the EU CO2 emission limits. During his ACEA presidency, he advocated that the fines should be postponed as it would cost the industry too much money, which they couldn’t invest in preparing for the (electric) future.
Since the disappearance of Carlos Tavares at the helm of Stellantis at the end of last year, Zipse seems to have taken over his point of view: “We knew the rules for a long time already; we should have been prepared. And at BMW, we are.”
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