BMW’s supervisory board on Thursday (20 July) named Norbert Reithofer as chairman of the board of management, taking over from Helmut Panke on 1 September.
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The board also appointed Frank-Peter Arndt as Reithofer’s successor as board member in charge of production. Arndt currently heads BMW’s Dingolfing plant.
Klaus Draeger becomes responsible for research, development and purchasing, succeeding Burkhard Göschel on 1 November. Draeger is currently director of the department responsible for developing the BMW group’s large model lines (5, 6 and 7 Series).
Supervisory board chairman Joachim Milberg said: “These decisions… will shape the management of the BMW Group in the long run. The newly composed board of management will ensure continuity of management over the coming years and provide a basis for the continued success of the BMW Group.”
He said the board was grateful to Panke for “all the successful work he has carried out for the company”. Panke has been with BMW for 24 years, a member of the board of management since 1996 and chairman since May 2002.
BMW imposes a strict retire-at-60 policy and it is understood that Panke had asked the board to extend his time with the automaker.
Reithofer is currently the member of the BMW board of management responsible for production. He has been a member since 2000, and prior to that, held various posts, including head of the Rosslyn plant in South Africa and head of the Spartanburg plant in the USA. He joined BMW in 1987.
