BMW CEO Harald Krueger To Step Down From Board

The Chairman of the Board of Management of BMW AG, Harald Kruger, gave notice that he will not seek a second term of office. The Supervisory Board will address the matter of a successor during its next meeting on 18 July 2019. Until a decision has been made, Harald Kruger will hold his position as Chairman of the Board of Management. Harald Kruger assumed the position of Chairman of the Board of Management of BMW AG from Dr Norbert Reithofer on 13 May 2015.

Under his leadership, the company put forward its new strategy which enabled the BMW Group to actively shape the transformation of the industry and the transition towards sustainable mobility of the future. With the largest model roll-out in the company's history, vehicle deliveries reached new all-time highs, while at the same time the company systematically expanded its electromobility strategy. By 2023, the BMW Group will have 25 electrified models on the roads.

As Chairman, Kruger further strengthened the significance of strategic partnerships - particularly in the area of breakthrough technologies such as highly automated driving. Additionally, the BMW Group has successfully merged its mobility services under a new entity. Moreover, the BMW Group significantly 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%.

Kruger said, "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. Over the last years, the automotive industry has been shaped by enormous changes, which have brought about more transformation than in the previous 30 years. This has demanded tremendous efforts from every employee within the company. For their outstanding commitment, I would like to personally thank each and every one of them. It has always been a true honour for me to work with this tremendous team and to set the BMW Group on a path towards a successful future during the most significant transformation of this industry."