MUNICH: Dr Norbert Reithofer has stepped down as chairman of BMW AG’s Supervisory Board after 38 years with the company.
He began his career in October 1987 as head of maintenance planning and rose through various management roles to join the board of management in March 2000, overseeing production.
He became CEO in September 2006 and was appointed supervisory board chairman in May 2015.
Under his leadership, BMW launched its “Number ONE” strategy, which underpinned the brand’s global growth and saw it through the 2008–09 financial crisis to become the world’s leading premium carmaker.
Reithofer (left) shaking hands with his successor Dr Peter.
He was instrumental in founding the BMW i electric vehicle line, driving digitalisation, expanding into China and embedding sustainability and resource efficiency into corporate planning.
His efforts were honoured at BMW’s 105th annual general meeting, with deputy supervisory board chairman Stefan Quandt describing his departure as “the end of an era.”
Current CEO Oliver Zipse praised Reithofer as “a major architect of BMW’s success” whose guidance on the supervisory board would continue to benefit the company.
Shareholders elected the supervisory board's choice — Dr Nicolas Peter — as Reithofer’s successor. Dr Peter was a former board member responsible for finance until May 2023.
