Click it and Unblock the Notifications
Dr. Norbert Reithofer Concludes 38-Year Tenure At BMW Group Amid Transition In Leadership
Dr. Norbert Reithofer, who has been with BMW AG for nearly 40 years, is stepping down as Chairman of the Supervisory Board. He expressed gratitude to colleagues and stakeholders, saying, "After 38 years, it is time for me to say goodbye to the BMW Group. It has been an honour to be a part of this exceptional company." His departure marks the end of an era for BMW.
Reithofer's journey with BMW began on 1 October 1987 as head of Maintenance Planning. He later joined the Board of Management in March 2000, overseeing Production. In September 2006, he succeeded Helmut Panke as Chairman of the Board of Management. By May 2015, he had taken over from Prof. Joachim Milberg as Chairman of the Supervisory Board.
During his leadership, Reithofer introduced Strategy "Number ONE," which was pivotal for BMW's international growth. This strategy helped the company navigate the 2008/09 financial crisis and emerge as a leading premium manufacturer globally. His vision also led to the launch of the BMW i electromobility brand and significant digital advancements.
Stefan Quandt, Deputy Chairman of the Supervisory Board, praised Reithofer's contributions: "On behalf of my family and all our shareholders, I would like to thank you for your outstanding entrepreneurial achievements." The tribute at BMW AG's Annual General Meeting highlighted his impact on the company's success.
The Supervisory Board is ensuring continuity by proposing Dr. Nicolas Peter as Reithofer's successor. Dr. Peter served as BMW AG's Finance division head from January 2017 to May 2023. With extensive experience in various management roles within BMW, he completed a two-year cooling-off period required by governance codes.
Oliver Zipse, Chairman of the Board of Management at BMW AG, acknowledged Reithofer's influence: "Dr. Reithofer is a major architect of the BMW Group’s success today." Zipse noted that Reithofer elevated key figures during his tenure and provided valuable guidance as Supervisory Board Chairman.
The BMW Group Overview
The BMW Group encompasses four brands: BMW, MINI, Rolls-Royce, and BMW Motorrad. It operates over 30 production sites worldwide and maintains a sales network in more than 140 countries. In 2024 alone, it sold over 2.45 million passenger vehicles and more than 210,000 motorcycles globally.
Sustainability remains integral to BMW's strategy, covering all aspects from supply chain to product lifecycle. The company's financial success in 2024 included a profit before tax of €11 billion on revenues totaling €142.4 billion.
BMW AG extends its gratitude to Dr. Reithofer for his visionary leadership and commitment to innovation throughout his career with the company.
Continue with Google