BMW has officially announced Oliver Zipse as the successor of Harald Krueger in the position of Chairman of the Board of Management.
The Bavarian car maker’s supervisory board announced its decision today, and the 55-year-old executive will start at his position on August 16. Krueger will resign as Chairman and will leave the Board of Management by mutual agreement on August 15.
“With Oliver Zipse, a decisive strategic and analytical leader will assume the Chair of the Board of Management of BMW AG. He will provide the BMW Group with fresh momentum in shaping the mobility of the future,” said Dr Norbert Reithofer, Chairman of BMW’s Supervisory Board.
Zipse has been the favorite to replace Krueger ever since the departing CEO announced he will not seek an extension to his term in BMW’s top spot.
“The Supervisory Board greatly respects the decision by Harald Krueger and today expressed our sincere appreciation for his many years of successful work within the BMW Group. On behalf of the entire company, we all wish him all the best in the future and hope that the BMW Group will always have a special meaning for him,” Reithofer added.
Zipse has been working in BMW since 1991, when he joined the company as trainee. The 55-year-old has been a member of the Board of Management since 2015, being responsible for the production division. He’s credited with the company’s very efficient manufacturing network, which was expanded under his watch in China, the US and Hungary, helping BMW to achieve very high profit margins.
Zipse is tasked with driving BMW into the future, shifting the company’s focus on electric cars and the development of autonomous driving technologies.