The BMW Group has announced Oliver Zipse will assume the role of chairman on 16 August 2019, succeeding Harald Krüger.

The Munich-based company’s supervisory board made the decision during a meeting in Spartanburg, South Carolina.

At the beginning of July, Krüger announced he would not seek a second term of office. Krüger will resign as chairman and leave the board of management “by mutual agreement” on 15 August 2019.

“With Oliver Zipse, a decisive strategic and analytical leader will assume the chair of the board of management of BMW AG. He will provide the BMW Group with fresh momentum in shaping the mobility of the future,” said Dr Norbert Reithofer, chairman of the supervisory board of BMW AG.

The 55-year-old Zipse has been a member of the board since 2015 and is currently responsible for the production division. He began his career in the company in 1991 as a trainee and has since held various management positions, including acting as managing director of Plant Oxford and senior vice-president for corporate planning and product strategy.

“The supervisory board greatly respects the decision by Harald Krüger and today expressed our sincere appreciation for his many years of successful work within the BMW Group. On behalf of the entire company, we all wish him all the best in the future and hope that the BMW Group will always have a special meaning for him,” added Reithofer.

Original article from Car