Car manufacturer
Former finance chief Peter is to become the new head of the BMW supervisory board
BMW is to get a new chairman of the supervisory board. The incumbent will no longer appear at next year’s general meeting.
After ten years, BMW gets a new chairman of the supervisory board. The incumbent and former CEO Norbert Reithofer will no longer appear at next year’s general meeting after two terms in office, the car manufacturer announced. Instead, Nicolas Peter should be elected to the supervisory board and then appointed its chairman. The supervisory board will propose him and has announced that it will make him chairman if he is elected.
Like his predecessor, Peter also has extensive experience inside BMW: he was CFO from 2017 to May 2023 and also worked for the group before that. Peter adheres to the two-year cooling-off period specified in the German Corporate Governance Code quite closely: According to BMW, he no longer held any position in the company after May 11, 2023. The general meeting is scheduled for May 14, 2025.
dpa
Source: Stern
