BMW, one of the world's leading luxury car manufacturer based out of Germany is set to get a new CEO in early 2015.
Norbert Reithofer, the present CEO of the luxury car manufacturer will step down from the CEO position, to become Chairman of the board.
His position as the CEO will be taken over by Harald Krueger, who is presently the production chief of BMW.
Reithofer, who has been at the throne of the company since 2006, has led the company to be successful, expand and gain profits all these years.
He was also the man behind the success of BMW in China.
Krueger, on the other hand joined BMW back in 1992 as a trainee and worked his way up the success ladder.
He was the person responsible for the success of the company's MINI brand as well as the motorcycle department before becoming the Chief of production in 2013.
Krueger was also the project engineer at the plant in Spartanburg, South Carolina, during the 1990s and the Director of engine production at Hams Hall in the UK.
The company has said in a statement that Reithofer will take over as the new Chairman of the board, replacing Joachim Milberg during the shareholder meeting, scheduled to take place on the 13th of May.
BMW said that these changes are steps taken to initiate a generational change in the CEO and Chairman's position.