The German car manufacturer has promoted a new CEO on the same day one exec was poached by rival Volkswagen.Things are changing in Bimmerland.
BWM Group announced a new leader Tuesday, with company insider Harald Krueger taking over for outgoing Board of Management chair Norbert Reithofer. Reithofer had been the chief executive at the German automaker since 2006.
This wasn’t the only change at the top for BMW today. Senior executive Herbert Diess was hired away by German rival Volkswagen, perhaps signaling that Diess had been passed over for the top job at BMW. Diess will lead the Volkswagen passenger cars brand at VW.
Krueger has been at BMW since 1993, most recently serving as the head of production. Reithofer joined BMW in 1987 and was also responsible for leading production before becoming CEO.
These changes are happening a year earlier than expected, although BMW has given no reason as to why.
Reithofer isn’t entirely done at BMW, though, as he will take over as Chairman of the Supervisory Board.
Read more: BMW shakes up its leadership ranks
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