BMW AG has announced the appointment of Oliver Zipse as its new CEO, effective from August 16, 2019. Zipse will replace Harald Krüger, who decided not to seek a second term of office after four years at, and will vacate his position and the board of management on August 15.

Zipse has been a member of the board of management since 2015, and is currently responsible for the company’s production division. His career within BMW started in 1991, where he worked as a trainee before going on to hold various management positions, including as managing director at Plant Oxford and senior vice president corporate planning and product strategy.

“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 Norbert Reithofer, chairman of the supervisory board of BMW AG.

“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,” he added.