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BMW board to decide on future of CEO at July meeting - Handelsblatt

BMW board to decide on future of CEO at July meeting - Handelsblatt
FILE PHOTO: The BMW logo is seen on a car in Nice, France, April 8, 2019. REUTERS/Eric Gaillard -
Eric Gaillard(Reuters)
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FRANKFURT (Reuters) – The supervisory board of BMW <BMWG.DE> will meet on July 18-19 to decide on the future of the automaker’s chief executive officer, German newspaper Handelsblatt reported on Thursday.

The paper, citing unnamed sources, said the contract of CEO Harald Krueger runs until May 2020 and could have been extended in June.

If Krueger doesn’t get an extension, there are two internal frontrunners for the top job, though there has been no formal decision, the paper reported.

One is Klaus Froehlich, head of development, and the other is Oliver Zipse, head of production. Both currently sit on the management board.

BMW couldn’t immediately be reached for comment.

(Reporting by Tom Sims and Edward Taylor; editing by David Evans)

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