Breaking news: Stefan Krause leaving BMW AG!


KokkenTor

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Ian Robertson appointed as Head of Sales and Marketing on the BMW AG Board of Management

Stefan Krause moves to the Board of Management at Deutsche Bank
Four candidates nominated for the BMW AG Supervisory Board




Munich. The BMW AG Supervisory Board has appointed Ian Robertson (49) as the BMW AG's new Board Member for Sales and Marketing with immediate ef-fect. Mr Robertson has been Chairman and Chief Executive Officer of Rolls-Royce Motor Cars Ltd since February 2005 and will remain in this capacity with the UK-based BMW AG subsidiary in Goodwood until his successor is an-nounced.

Prior to the announcement of Mr Robertson's appointment, the BMW AG Su-pervisory Board had granted Stefan Krause's (45) request to be released from his position as Board Member for Sales and Marketing. Mr Krause's 20-year career with the BMW AG has seen him take on a wide range of international po-sitions. The Supervisory Board and the entire Management Board acknowl-edged Mr Krause's request with regret and expressed their gratitude for his ser-vices to the company over the past years.

Norbert Reithofer, Chairman of the Board of Management of BMW AG, said, "We respect Mr Krause's decision to terminate his contract prematurely and take on a new challenge outside the BMW AG. On behalf of the entire Management Board I would like to thank him for his commitment and wish him all the best for his new task." Referring to Mr Krause's successor, Dr Reithofer added, "I am pleased that with Ian Robertson at the helm, our Sales and Marketing organisa-tion will be managed by someone who has a wealth of international experience and a knowledge base spanning every possible area of the automotive industry."

At the close of the Annual General Meeting on 8 May two members of the Su-pervisory Board will be stepping down: Arthur L. Kelly and Dr Hans-Dietrich Winkhaus will have reached the age limit agreed for Supervisory Board members. Heinz-Joachim Neubürger will also give up his Supervisory Board mandate due to his new position with KKR.

Based on a recommendation by the Nominations Committee, the Supervisory Board will propose three candidates as their possible successors at the next An-nual General Meeting: Prof. Dr. rer. pol. Renate Köcher, Managing Director of the Allensbach Institut für Demoskopie, Prof. Dr. rer. nat. Reinhard Hüttl, Direc-tor of the GeoForschungsZentrums Potsdam and Dr. jur. Karl-Ludwig Kley, Chairman of the Executive Board of Merck KGaA.

In February of this year Konrad Gottinger relinquished his Supervisory Board mandate as employee representative. As a possible successor, the Supervisory Board, the Management Board and the General Works Council will propose Maria Schmidt. Ms Schmidt, who is a member of the Works Council in Dingolf-ing, will stand as a candidate in the next regular vote.

Press Information
 
Not a surprise, but unexpected (too soon).

Herr Krause was a bit disappointed after not being named Panke's successor in BMW AG CEO position. After that he was also "accused" of not arranging Dollar-Euro hedging properly for the years we are in now. The hedging was done based on projection Dollar won't be as weak ... but the projections were wrong. Hedging is poor. BMW loosing hundreds of millions of Dollars in US market per year.

Since Herr Ganal (then CMO) had some fresh ideas regarding the financial solutions (especially hedging) BMW named Ganal CFO, and put Krause into CMO position. Since Krause is a financial specialist - I guess - he considered that reposition as downgrading move. So - looking from today's prospective - he started to look for a new job. And now when he has found it he resigned as BMW CMO.

Yes, there were inside rumors about Krause's disappointment but no implications about his resignation.


*****

Mind that with new SB members, and new Board of Directors members in the latest months BMW AG has completely different leadership than eg. 2 -3 years ago.

Amazing.


*****

I told Hussein (husseindesign) a while ago - when Director's changes were made - things at BMW AG were not as rosy as they were trying to paint them. And there is a lot of tension in the company lately. ONE program (cost-cutting) is underway, some crucial decision regarding future product planing has to be made (incl. the new brand), there are difficulties at finding new partners for new joint-venture projects. Quite hard times. And such personnel shakeups are not helping at all. It also seems to me BMW are completely removing the old Panke's team members from decision making.
 
Not a surprise, but unexpected (too soon).

Herr Krause was a bit disappointed after not being named Panke's successor in BMW AG CEO position. After that he was also "accused" of not arranging Dollar-Euro hedging properly for the years we are in now. The hedging was done based on projection Dollar won't be as weak ... but the projections were wrong. Hedging is poor. BMW loosing hundreds of millions of Dollars in US market per year.

Since Herr Ganal (then CMO) had some fresh ideas regarding the financial solutions (especially hedging) BMW named Ganal CFO, and put Krause into CMO position. Since Krause is a financial specialist - I guess - he considered that reposition as downgrading move. So - looking from today's prospective - he started to look for a new job. And now when he has found it he resigned as BMW CMO.

Yes, there were inside rumors about Krause's disappointment but no implications about his resignation.


*****

Mind that with new SB members, and new Board of Directors members in the latest months BMW AG has completely different leadership than eg. 2 -3 years ago.

Amazing.

What would we do without you...;):eusa_clap:usa7uh:

Thanks!

:t-cheers:
 
Mind that with new SB members, and new Board of Directors members in the latest months BMW AG has completely different leadership than eg. 2 -3 years ago.

Amazing.

Hope it will be as good as the precedent BoD and SB, because the only mistake they made in all these years was this Dollar/Euro thing. Can't say the same for MB (really not :t-banghea)... neither Audi (more lack of innovations than mistakes however, for Audi).

BTW thanks for that explanation!
 
Btw, there have been rumors going on for months now Herr Krause was not attending Board of Directors meetings at all in the last months.

But most thought those were just vicious rumors. Now - according to this fresh news about his resignation - they seem completely real & plausible to me.

:t-hands:
 
Taking in consideration what you've said in your previous post, one would expect something like this to happen. You wanna do what you do best.

:t-cheers:
 
There is another rumor going on there will be some additional personnel changes ... in design department.

I have no additional info but it may only be a replacement for the late Herr Ninic (Head of BMW cars interior design).

:t-hands:


I hope Bangle is not resigning, or being fired. :D:usa7uh:

Imagine ... Bangle leaving for ... Audi. Ahahahahahahahaha ... :D:D:D
 

BMW

Bayerische Motoren Werke AG, abbreviated as BMW is a German multinational manufacturer of luxury vehicles and motorcycles headquartered in Munich, Bavaria, Germany. The company was founded in 1916 as a manufacturer of aircraft engines, which it produced from 1917 to 1918 and again from 1933 to 1945.
Official website: BMW (Global), BMW (USA)

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