Norbert Reithofer to succeed Helmut Panke at BMW's helm
We knew that BMW chairman Helmut Panke would go "buh-bye" after his contract expires in 2007 due to BMW's policy to boot any leader over the age of 60, but we weren't sure who would take the helm. BMW has announced that the man for the job is Norbert Reithofer, who has been production manager since 2000. The 50 year-old German has been with BMW since 1987.
Thanks to a stint managing the company's Spartanburg, S.C. plant, Reithofer has some experience with BMW's U.S. operations and the American market, which is of importance to the company.
It has not been reported whether Panke will sit on the supervisory board after he turns over the top spot -- the board does not currently have a seat open.
[Source: Associated Press via the Houston Chronicle]
Reader Comments (Page 1 of 1)
Fabulo 12:25PM (7/20/2006)
"...due to BMW's policy to boot any leader over the age of 60"
Wow, that kind of policy would not fare too well in the US!
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ger3sf 1:01PM (7/20/2006)
Hopefully, the severance package is worth it.
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Louis Longo 1:46PM (7/20/2006)
Hey Newbie (As Chairman cause his in BMW since 1987)
Just Dont fire a guy name Chris Bangle lol.
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GhostDoggy 7:59AM (7/22/2006)
I like their policy of keeping the decision-makers youthful. Last thing any company needs is some old fart getting sick, mentally, and bringing a company down.
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