BMW’s supervisory board has extended CFO and management board member Friedrich Eichiner’s contract by two years to May 2017. He will retain his management board responsibility for the finance division.

“We are delighted to extend our excellent working relationship with Eichiner as CFO,” said supervisory board chairman Joachim Milberg. “Eichiner will help ensure continuity as well as being crucial to the further strategic development of the company.”

Eichiner joined the management board in October 2007 and has been responsible for the finance division since December 2008.