One of the crucial influential chapters in BMW Group’s trendy historical past formally closed at the moment as Dr. Norbert Reithofer stepped down as Chairman of the Supervisory Board after practically 4 a long time with the corporate. The announcement got here on the conclusion of BMW AG’s one hundred and fifth Annual Common Assembly, marking the top of Reithofer’s transformative management that essentially reshaped the model’s world place, product portfolio, and technological course.
“After 38 years, it’s time for me to say goodbye to the BMW Group. It has been an honour to be part of this distinctive firm,” mentioned Reithofer. “Collectively, we’ve overcome super challenges and celebrated unparalleled successes. I firmly consider that the BMW Group will proceed to comply with its personal, distinctive BMW path.”
A Lengthy BMW Journey
Reithofer’s BMW journey started in 1987 in Upkeep Planning. By the flip of the millennium, he had taken on key management roles, together with head of worldwide manufacturing. In 2006, he succeeded Helmut Panke as Chairman of the Board of Administration, main the corporate via the monetary disaster of 2008–2009 and charting a path of development that tripled world gross sales.
In 2000, BMW’s lineup was restricted. The X5 had simply debuted because the model’s first SUV, with no 1 Sequence, 2 Sequence, or revived 6 and eight Sequence fashions on provide. MINI and Rolls-Royce had but to launch below BMW stewardship. Again then, BMW offered simply 822,000 automobiles yearly. At this time, the BMW Group – together with BMW, MINI, and Rolls-Royce – sells practically 2.5 million items per yr throughout a vastly expanded portfolio, together with 9 X fashions alone.
BMW’s transformation from a distinct segment premium automaker to the world’s largest premium automobile producer was powered by Reithofer’s daring strategic imaginative and prescient. His Technique Quantity ONE laid the groundwork for world enlargement, significantly in China, and pushed BMW into new technological frontiers.
From EfficientDynamics to Electrification
Reithofer’s management was outlined by innovation. He launched EfficientDynamics, prioritizing gas effectivity and decrease emissions with out sacrificing driving dynamics. His most forward-looking transfer got here with the creation of BMW i, launching the totally electrical i3 in 2013 and the plug-in hybrid i8 in 2014—pioneering efforts that positioned BMW as a frontrunner in electrification lengthy earlier than it grew to become business mainstream.
Regardless of going through skepticism for strikes like downsizing engines with turbocharging and introducing front-wheel drive on fashions corresponding to the two Sequence Lively Tourer, these methods have since confirmed commercially profitable. BMW has offered practically 600,000 automobiles based mostly on its front-wheel drive structure, which at the moment underpins bestsellers just like the 1 Sequence, X1, and X2.
By 2024, BMW had additionally turn out to be Germany’s most profitable premium EV model, outpacing rivals in electrical gross sales—a testomony to Reithofer’s long-term dedication to sustainability and future mobility.
Continuity in Management: Dr. Nicolas Peter Steps In
The Supervisory Board has nominated Dr. Nicolas Peter as Reithofer’s successor. Peter, who served as BMW’s Chief Monetary Officer from 2017 to 2023, brings greater than three a long time of expertise inside BMW’s monetary and strategic management. Having noticed a compulsory two-year cooling-off interval, he was formally appointed at the moment to make sure a clean management transition.
