BMW considering changes in leadership - report

Thursday, 27. June 2019 18:37

German auto industry giant Bayerische Motoren Werke (BMW) is considering replacing Chief Executive Officer Harald Krueger at its shareholder meeting next month, Handelsblatt reported on Thursday, citing people briefed on the situation. No final decision has been made yet and Krueger's contract could also be extended past the May 2020 expiry, the report indicated.

If BMW decides to replace its current chief, two candidates are likely to be under consideration, BMW's development chief Klaus Froelich and head of production Oliver Zipse. However, Krueger is eligible to lead BMW for another term before he reaches 60 years of age, which is the limit for the company's board members.

Additionally, for the first time in 10 years, BMW's executive board has imposed a group-wide freeze on new hires. It is unclear for how long the freeze is going to last.

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