Tags: EU | Germany | BMW CEO

BMW CEO to Step Down after Disappointing Business Results

Friday, 05 July 2019 01:45 PM EDT

FRANKFURT, Germany (AP) — BMW says CEO Harald Krueger is stepping down and that the company's board will meet later this month to discuss a successor.

Friday's news comes after BMW lost money on its automotive business in the first quarter of the year after the company was hit by a 1.4 billion euro ($1.6 billion) charge for an anti-trust case and by higher upfront costs for new technology.

A company news release quoted Krueger as saying he would like to pursue "new professional endeavors."

Krueger's contract was due to expire in 2020.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
BMW says CEO Harald Krueger is stepping down and that the company's board will meet later this month to discuss a successor.Friday's news comes after BMW lost money on its automotive business in the first quarter of the year after the company was hit by a 1.4 billion euro...
EU,Germany,BMW CEO
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2019-45-05
Friday, 05 July 2019 01:45 PM
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