BMW to Name Harald Krueger As CEO

There will be a change at the top for BMW. The luxury automaker has announced that Norbet Reithofer will step down as CEO and Harald Krueger will take over, subject to election by the board of directors. Reithofer will become chairman of the board. He oversaw the development of the i3 and i8, both hybrid plug-in electric vehicles. His replacement, Krueger, was the production head at the Germany-based company. The change will occur this May after BMW’s annual meeting. Current BMW chairman Joachim Milbert issued a statement saying, “The automotive industry is undergoing a fundamental shift. Those who want to play an active role in shaping tomorrow’s mobility need constantly to find viable solutions to future challenges. The BMW Group plans to maintain its leading role in the premium segment. To achieve this, we have to hand over responsibility to the next generation at an appropriate time.” Krueger, 49, has been with BMW for 22 years and will become the youngest CEO among major automakers.