The Supervisory Board of BMW has decided on the successor to CEO Oliver Zipse: At the Annual General Meeting in May 2026, current Production Board Member Milan Nedeljković (56) will take over as Chairman of the Board in Munich. BMW had already made an exception to its internal age rule for Zipse.
In 2023, the BMW Supervisory Board postponed the impending generational change by extending Oliver Zipse’s contract, who has led BMW since 2019; the board made an exception to its internal rule for board members.
Typically, there is an age limit of 60 years, and from 60 onward, only one-year contracts are usually agreed upon. However, Zipse turned 60 on 7 February 2024, meaning he will be 62 when his contract ends in the summer of 2026.
Five-year contract
At the BMW AG Annual General Meeting on 13 May 2026, Zipse will step down as Chairman of the Board of Management. During its meeting on Tuesday, the Supervisory Board appointed the current Production Director, Milan Nedeljković, as the new Chairman and secured his services with a contract extending until 2031.
“Following the successful launch of the Neue Klasse, Nedeljković will succeed Oliver Zipse, who has been a member of the Board of Management of BMW AG for more than ten years and has served as its Chairman since August 2019,” the company stated.
Nicolas Peter, Chairman of the Supervisory Board and former member of the BMW Board of Management, highlighted Nedeljković’s “strategic foresight, strong implementation skills, and entrepreneurial thinking.”
“He stands for very focused management of resources, whether financial or ecological,” Peter explained. “Milan Nedeljković inspires people with ideas, unites them behind shared values, and thereby motivates them to realize peak performance. This is a crucial leadership quality to maintain the BMW Group’s successful course in this time of transformation.”
Strong reputation
When Zipse took over as Chairman of the Board of Management in 2019, he had previously served as BMW’s Production Director, and Nedeljković was appointed as his successor.
He began his career at the company in 1993 as a trainee and boasts extensive international experience. He has held various leadership roles, including Plant Manager at the Oxford plant, Plant Manager in Leipzig and Munich, and Head of Corporate Quality.
His work at the plants, as well as the successful production launch of the Neue Klasse at the entirely new Debrecen plant and the preparations for it across BMW’s existing global facilities, have earned Nedeljković a strong reputation within the company.
“Milan Nedeljković is held in high regard by and enjoys the trust of BMW’s workforce,” said Martin Kimmich, Chairman of the General Works Council and Deputy Chairman of the Supervisory Board. “Together with him, we look forward to continuing the long tradition of cooperative collaboration between the Works Council and corporate management as a foundation for our BMW success story.”
A significant contribution
Neither Nedeljković nor Zipse provided statements in the BMW announcement. Zipse will “leave the Board of Management as planned after the Annual General Meeting on 13 May 2026, concluding a total of 35 years with the BMW Group,” explains the BMW press release.
His plans have not yet been outlined. As seen with long-serving Finance Director Nicolas Peter and his predecessor as Supervisory Board Chairman, Norbert Reithofer, former board members have often transitioned into the BMW Supervisory Board sooner or later.
The Supervisory Board stated that “Oliver Zipse has made a significant contribution to the BMW Group and deserves our sincere gratitude.”
“He has led BMW through global crises such as the Covid-19 pandemic and represents the Neue Klasse as the largest strategic project in the company’s history,” Peter said. “Oliver Zipse has always prioritized BMW’s success. He consistently took a clear stance, even in the face of great external headwinds, and thus kept the company on track during turbulent times,” Peter concluded.
In 2021 and 2022, for the maximum possible duration of two years, Oliver Zipse was also the President of the European Car Manufacturers Association, ACEA. He was succeeded by Renault boss Luca de Meo (who recently left the automotive business) and, afterwards, by Ola Källenius, CEO of Mercedes-Benz, who has just been re-elected for another year as ACEA President, just as Zipse and de Meo before him.
