AutoBeta(AutoBeta.net)07/08 Report--

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According to foreign media reports, BMW's current CEO Kruger has announced that he will not remain in office after his term ends in April 2020, while Chipze, a 55-year-old member of the BMW board of directors, is expected to succeed Kruger as the group's new CEO. BMW officials declined to comment "on Chipze's successor as CEO" and said BMW's supervisory board would hold a plenary meeting on July 18, when a new CEO could be formally appointed.

Zipse joined BMW as an intern in 1991 to increase BMW's production capacity, particularly in China and the US, where Mr Chipze, the youngest of three potential successors, sets an age limit of 60 for management members. Like Mr Kruger, Mr Chipze, an engineer, has gone through a systematic path of promotion at BMW.

In 2009, he started as director of research and development, and since then he has been promoted to head of group strategy. In 2015, he took over from Kruger as head of manufacturing. Within BMW, the position is seen as the last step before moving to the top management position, so by comparison, Chipze seems to be better suited to the candidate's criteria.

During Kruger's tenure, the development of BMW seemed to be somewhat unsatisfactory. As a result of Deiss's job-hopping at Volkswagen, Kruger was hastily appointed as CEO of BMW in December 2014 and officially took office in May 2015. Since then, BMW's share price has taken a hit. As BMW pursued a more aggressive electrification strategy, Volkswagen gradually outperformed BMW.

Not only that, BMW ceded the title of best-selling luxury brand to Mercedes-Benz in 2016, and BMW halted plans to mass-produce carbon fiber electric cars when Tesla's zero-emission electric car became popular with consumers.

At BMW's annual results press conference, BMW sidestepped the question of whether Mr Kruger would get a contract renewal. On July 5 local time, Kruger said he would seek new career opportunities. "I have worked on the BMW management committee for more than 10 years and served as BMW CEO for more than four years, and I want to seek new career opportunities and apply my rich international experience to new projects and careers," he said in a statement. "

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