Categories LATEST

BMW faces fresh challenge as CEO Harald Krueger steps down

BMW Friday announced the retirement of chief executive officer Harald Krueger amid speculations about his future in the company after the current term ends. Krueger’s decision to step down comes at a time when the German carmaker is on a mission to transform the business model, with focus on alternative fuel technology.

The automotive division of BMW, which is going through one of the worst phases, recorded a loss in the most recent quarter. Only the motorcycle and financial services segments were profitable. In the current scenario, Krueger’s retirement is likely to add to the company’s troubles. It will be a challenging task for the management to find a fitting successor to Krueger, considering the changing market dynamics marked by the growing shift to electric vehicles.

The board of directors of BMW is expected to devise the succession plan at the meeting to be held later this month. The board was planning to seek the renewal of Krueger’s contract at the upcoming meeting. After serving the company for about three decades, holding the post of chief executive in the last four years, Krueger will be stepping down next year.

The board of directors of BMW is expected device the succession plan at the meeting to be held later this month

Krueger, who expressed his unwillingness to seek another term, will continue in the current position until a successor is found. Earlier, he had come under fire for the company’s dismal earnings performance in the recent quarters, the weakest in several years. Making matters worse, the carmaker was recently hit by a penalty of about EUR 1.4 billion in an anti-trust lawsuit.

As the industry is undergoing a rapid transformation, it is essential for automakers around the world to keep pace with the new trend and BMW is no exception. It is expected that the company’s growth initiatives, with long-term goals, will take some time to yield the desired results.

Also see: General Motors Q1 2019 Earnings Call Transcript

In a sign that the company is taking the threat from electric vehicles seriously, BMW last month unveiled the Vision M Next electric car and electric motorcycle concepts. It is believed to be a strategy to effectively compete with Volkswagen, which is aggressively pushing its EV initiative, and Tesla (TSLA).

We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips

Most Popular

Should investors worry about Micron’s (MU) weak Q4 results and guidance?

The semiconductor industry is a rapidly growing business segment that currently thrives on the digital transformation wave. The demand for memory chips and other semiconductor products increased over the years,

What has Bed Bath & Beyond (BBBY) outlined for this fiscal year?

Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up on Friday, a day after the company delivered disappointing results for the second quarter of 2022. The company reported a

NKE Earnings: Highlights of Nike’s Q1 2023 results

Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company's stock suffered a big loss

Comments

  1. Pingback: teak furniture
  2. Pingback: ไฮโล
  3. Pingback: Heavy R
  4. Pingback: Heavy News
  5. Pingback: unox
  6. Pingback: ff tools hack
  7. Pingback: ffh4x v41
  8. Pingback: madridbet giriş
  9. Pingback: 5.56 green tips
  10. Pingback: flikkers
  11. Pingback: marisol
  12. Pingback: TikTok 18 apk
  13. Pingback: enlevement epave
  14. Pingback: Epaviste gratuit
  15. Pingback: Epaviste gratuit
  16. Pingback: épave automobile
  17. Pingback: épave automobile
  18. Pingback: Epaviste
  19. Pingback: enlevement epave
  20. Pingback: épave automobile
  21. Pingback: Epaviste
  22. Pingback: enlevement epave
  23. Pingback: G19 for sale
  24. Pingback: sexy
  25. Pingback: ไพ่แคง
  26. Pingback: เว็บ123
  27. Pingback: naza
  28. Pingback: weed edibles
  29. Pingback: canadian business
  30. Pingback: Marijuana delivery
  31. Pingback: ps5 sale
  32. Pingback: Real krt
  33. Pingback: junk car towing
  34. Pingback: CZ P10C
  35. Pingback: madritbet
  36. Pingback: meritroyalbet
  37. Pingback: eurocasino
  38. Pingback: elexusbet
  39. Pingback: penis girth sleeve
  40. Pingback: Takeaway
  41. Pingback: Epaviste
  42. Pingback: the stock market
  43. Pingback: hacendado
  44. Pingback: Google
  45. Pingback: cash for cars
  46. Pingback: bathmate
  47. Pingback: visit podcast
  48. Pingback: white runtz
  49. Pingback: cereal milk strain
  50. Pingback: Haupia strain
  51. Pingback: Watermelon haupia
  52. Pingback: Bubble hash
  53. Pingback: Moroccan hash
  54. Pingback: Litto disposable
  55. Pingback: Bubble hash
  56. Pingback: DESERT EAGLE 1911
  57. Pingback: deospray
  58. Pingback: Buy This Domain
  59. Pingback: bahis siteleri
  60. Pingback: trade show models
  61. Pingback: Miami models
  62. Pingback: convention models
  63. Pingback: E-commerce
  64. Pingback: 2punctilious
  65. Pingback: raw gardens carts
  66. Pingback: Rare Malts Whiskey
  67. Pingback: Buy This Domain
  68. Pingback: สล็อต pg
  69. Pingback: สล็อต
  70. Pingback: learn typing
  71. Pingback: University of Embu
  72. Pingback: concerta for sale
  73. Pingback: buy vyvanse 70mg
  74. Pingback: Wood tile floor
  75. Pingback: bathroom tile
  76. Pingback: tiles lowes
  77. Pingback: Buy Cocaine Online
  78. Pingback: Buy MDMA Online
  79. Pingback: zemits rf machine
  80. Pingback: zemits
  81. Pingback: mobiles
  82. Pingback: Trending videos
  83. Pingback: rime news
  84. Pingback: cookies
  85. Pingback: breaking news
  86. Pingback: Crime news
  87. Pingback: breaking news
  88. Pingback: helpful site
  89. Pingback: try this site
  90. Pingback: official site
  91. Pingback: Visit Your URL
  92. Pingback: american diploma
  93. Pingback: Firearms Site
  94. Pingback: Glock 17 for Sale
  95. Pingback: 45 ACP Ammo
  96. Pingback: Guns on Sale
  97. Pingback: Colt 1911 for Sale
  98. Pingback: SpyToStyle
  99. Pingback: SpytoStyle.Com
  100. Pingback: SpyToStyle
  101. Pingback: SpytoStyle.Com
  102. Pingback: SpytoStyle.Com
  103. Pingback: soi cau 247
  104. Pingback: lmhmod
  105. Pingback: so em xui la gi
  106. Pingback: tải game bài

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top