BMW chairman Dr Norbert Reithofer is stepping down from the business today.
Reithofer has been an architect of BMW Group’s strategic success for more than two decades. In 2000 he joined its board of management, and in 2015 he became chairman of its supervisory board.
The company, which includes the Rolls Royce Motor Cars and Mini brands as well as BMW cars and motorcycles, said its success in recent decades “is inseparable from the efforts of Dr Reithofer.
Reithofer launched the BMW i electromobility brand, accelerated digitalisation and played a key role in driving international expansion.
Stefan Quandt, deputy chairman of the BMW supervisory board, said: “On behalf of my family and all our shareholders, I would like to thank you for your outstanding entrepreneurial achievements, which have brought the company to the position it is in today. I can say with absolute conviction: It is truly the end of an era.”
Oliver Zipse, management board chairman, added: “Dr Reithofer is a major architect of the BMW Group’s success today. During his time as chairman of the board of management, he elevated all the company’s relevant key figures to a new level. As chairman of the supervisory board, he always served as a valuable source of momentum and guidance, supporting the work of the board of management in a constructive, critical and motivating way. His successful efforts will continue to shape the course of the company well beyond the end of his tenure.”
Reithofer’s first managerial position with BMW was in 1987 as head of maintenance planning.
Reithofer’s successor is Dr Nicolas Peter.