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Charleston Business

BMW leaders to discuss successor to chief executive Harald Krüger next week

Jul 10, 2019 04:17PM ● By David Dykes

BMW AG’s supervisory board will meet July 18 at its Spartanburg plant to address who will succeed chief executive Harald Krüger, who said in May he wouldn’t seek a second term as chairman of company’s board of management.

BMW officials confirmed the board will address the matter of a successor during its meeting, which will be closed to the media. 

Krüger said in May he wanted “to pursue new professional endeavours.” 

At the time, Dr. Norbert Reithofer, chairman of the supervisory board, expressed complete respect and understanding for his decision. 

Until a decision on a successor has been made, Krüger will hold his position as chairman of the board of management, BMW officials said.

Krüger assumed the position from Reithofer in May 2015. Under his leadership, the company put forward Strategy NUMBER ONE > NEXT, which enabled the BMW Group to actively shape the transformation of the industry and the transition towards sustainable mobility.

With the largest model roll-out in the company’s history, vehicle deliveries reached 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, Krüger further strengthened the significance of strategic partnerships -- particularly in the area of breakthrough technologies such as highly automated driving.

Still, the Munich-based company has faced headwinds confronting the entire automotive industry. Those include high costs to develop electric vehicles to meet tighter emissions regulations in Europe and China, and investments in autonomous vehicles to compete with tech companies like Waymo and Uber, The Associated Press reported. --David Dykes