BMW announced on Tuesday that Milan Nedeljkovic, the head of production, will take over as the new chief executive.
This transition comes as the German auto giant faces various challenges, including the shift toward electric vehicles and increasing competition from Chinese manufacturers.
Nedeljkovic, an engineer by training, has been with the Munich-based company since 1993. At 56 years old, he will succeed the current CEO, Oliver Zipse, in May when Zipse’s term concludes, according to the company’s statement.
Nedeljkovic currently oversees the group’s factories worldwide, which produce both electric and combustion engine models on the same production lines.
A key task will be advancing BMW’s expansion of its electric vehicle (EV) offerings, already well underway under Zipse’s leadership.
But the Serbian-born executive takes over at a time of deep crisis for Germany’s flagship auto sector.
BMW, which also owns the Mini and Rolls-Royce brands, is seeing its sales decline in the key Chinese market due to strong local competition, particularly when it comes to EVs.
BMW, like domestic rivals Mercedes-Benz and Volkswagen, has also been impacted by US tariffs, although it has fared somewhat better as its largest factory in the world is located in South Carolina.
The carmaker reported rising profitability in the third quarter due to healthy worldwide sales, with Zipse saying the group had proven itself “resilient” in the face of headwinds.
AFP
