[Mani59]

14th May 2025

+++ Formal tribute at Annual General Meeting of BMW AG. +++ Oliver Zipse: “major architect of today's success”. +++ Supervisory Board sets course for continuity at the company. +++



Munich . An important chapter in the history of the BMW Group is coming to an end: Dr. Norbert Reithofer, Chairman of the Supervisory Board of BMW AG since 2015 and closely associated with the company for nearly four decades, is stepping down from his position, effective today.

“After 38 years, it is time for me to say goodbye to the BMW Group. It has been an honour to be a part of this exceptional company. I would like to thank all our associates, shareholders and stakeholders for your trust and support,” said Reithofer. “Together, we have overcome tremendous challenges and celebrated unparalleled successes. I firmly believe that the BMW Group will continue to follow its own, unique BMW path.”

Dr. Reithofer has held various managerial positions at the company since 1 October 1987, starting out as head of Maintenance Planning. From March 2000, he served as a member of the Board of Management, responsible for the Production division. In September 2006, Reithofer was appointed Chairman of the Board of Management, taking over from Helmut Panke. In May 2015, he succeeded Prof. Joachim Milberg as Chairman of the Supervisory Board.

The BMW Group’s success in recent decades is inseparable from the efforts of Dr. Reithofer. The extensive tribute to Reithofer's achievements at the 105th Annual General Meeting of BMW AG reflected this.

Stefan Quandt, Deputy Chairman of the Supervisory Board of BMW AG honoured Reithofer’s outstanding service to the company: “On behalf of my family and all our shareholders, I would like to thank you for your outstanding entrepreneurial achievements, which have brought the company to the position it is in today. I can say with absolute conviction: It is truly the end of an era.”

Far-reaching vision,international growth and electromobility

During his tenure as Chairman of the Board of Management, Reithofer paved the way for the company’s long-term success with Strategy “Number ONE”, which laid the foundation for the BMW Group’s international growth. Under his leadership, the company successfully navigated the 2008/09 global financial crisis, becoming the world’s leading premium manufacturer and continuing to expand its position.

With far-reaching vision, Reithofer launched the BMW i electromobility brand, accelerated digitalisation and played a key role in driving international expansion, particularly in the growth market of China. He established sustainability and resource efficiency as key elements of the BMW Group's corporate strategy early on.

Oliver Zipse, Chairman of the Board of Management of BMW AG, emphasised Reithofer’s significance to the BMW Group as a whole: “Dr. Reithofer is a major architect of the BMW Group’s success today. During his time as Chairman of the Board of Management, he elevated all the company's relevant key figures to a new level. As Chairman of the Supervisory Board, he always served as a valuable source of momentum and guidance, supporting the work of the Board of Management in a constructive, critical and motivating way. His successful efforts will continue to shape the course of the company well beyond the end of his tenure.”

BMW AG extends its sincere thanks to Dr. Reithofer for his visionary leadership, tireless commitment and entrepreneurial, pioneering spirit.

Supervisory Board sets course for continuity at the company

As Reithofer's successor, the Supervisory Board proposed Dr. Nicolas Peter for election to the Supervisory Board of BMW AG at the Annual General Meeting and, subject to his election, supported the proposal to appoint him as Chairman of the Supervisory Board following the Annual General Meeting 2025.

Dr. Nicolas Peter served as the BMW AG Board of Management member responsible for the Finance division from January 2017 to May 2023. He has extensive experience in the automotive industry, combined with many years in a wide range of management positions at the BMW Group.

Dr. Peter has not held any position within BMW AG since 11 May 2023 and has therefore completed the two-year cooling-off period required by the German Corporate Governance Code.

[Mani59]

I wonder if our friends at Mercedes-Benz will put together any sort of retirement video like BMW did for Dieter Zetsche

[Old-Vectors]

38 years of pure excellence.

[wesleyan92]

I love our brand!

[hlmiii]

Originally Posted by wesleyan92

I love our brand!

Well stated. I've often felt the same thing over the decades. All of the operations - design, engineering, sales, governance, responsibility to the brand history and the environment, consistent innovation, and ability to remain the leading signpost for its competitors - makes the company worth our allegiance.

[yupetc]

Originally Posted by Mani59

I wonder if our friends at Mercedes-Benz will put together any sort of retirement video like BMW did for Dieter Zetsche

Love this video. Good twist and hilarious ending. (For first half of video, I was going to pull out from watching and start key-flaming your arse for all the MB attributes of the video. LOL)

[uniqueMR]

[JMD]

Dr. Norbert Reithofer, appreciate your guidance of the brand over these last 38 years! Enjoy your retire to the fullest,...and while you're at it,...grab an OG M5 or M3 and go have some fun! ...you're welcome!!

[My M3]

Thank you & enjoy Retirement

[My M3]

Very very good video

[drexplode]

Thank you for the many years of delicious bmw kool-aid. Mostly sugar and a little bit of water like we used to do as a kid in the e46 days. Before you go g20 ZHP pleaseeeeee ;-)

[T-Rexx]

BMW for life

[TheEnrique]

I think this guy had enough of this new design direction and didn't want anything to do with it lol

[srgntBMW]

Good riddance to the brainchild of the i3 and every GranTurismo failure.

[530iDriver]

He started working at BMW at age 30 in 1987. Now he is 68 (Born May 29, 1956).

[hamza201]

His role in shaping the company’s direction, especially in innovation and global growth, is clear. Wishing him the best in his next chapter.