BMW appoints production chief Milan Nedeljković as new boss

BMW's supervisory board has appointed Milan Nedeljković, the German carmaker's current head of production, as chief executive, succeeding Oliver Zipse, the company announced on Tuesday.

Zipse, who previously held the production role before becoming chief executive in 2019, will step down on May 13, the day of BMW's annual general meeting.

He will turn 62 in February, exceeding BMW's informal age limit of 60 for board members. During his tenure, Zipse oversaw the launch of the New Class, the cornerstone of the company's electric vehicle strategy.

The supervisory board thanked Zipse for his "significant contribution to BMW."

Board chairman Nicolas Peter said Zipse had "led BMW through global crises such as the Covid-19 pandemic and represents the Neue Klasse [New Class] as the largest strategic project in the company's history."

Nedeljković, who will be 57 when he assumes office, has been board member for production since 2019 and oversaw the start of New Class production.

Peter praised his "strategic foresight, strong implementation skills, and entrepreneurial thinking," adding that he "stands for very focused management of resources — whether financial or ecological."

Employee representatives also voiced support. "Milan Nedeljković is held in high regard by and enjoys the trust of BMW's workforce," said Martin Kimmich, chairman of the firm's works council.