Milan Nedeljkovic: Steering BMW into the Future

Milan Nedeljkovic is appointed as the new CEO of BMW, succeeding Oliver Zipse in May 2024. BMW faces challenges like stiff competition and high U.S tariffs, prompting a forecast cut. Nedeljkovic's leadership aims to navigate these hurdles by focusing on BMW's 'Neue Klasse' all-electric models for future growth.

BMW has announced the appointment of Milan Nedeljkovic as its new CEO, set to take the helm in May 2024, replacing Oliver Zipse. With extensive experience within BMW, Nedeljkovic is stepping into leadership during a challenging period for the German carmaker, marked by fierce competition from China and high U.S. tariffs.

The decision to cut BMW's 2025 earnings forecast underscores the significant pressures the company faces. However, BMW is optimistic about the potential of its all-electric 'Neue Klasse' series, aiming to boost growth by 2026 under Nedeljkovic's direction. Described by the supervisory board chairman as a unifying and motivating leader, Nedeljkovic seems poised to drive the company's evolution effectively.

Oliver Zipse, who led BMW through significant global challenges, including the pandemic, will depart after 35 years with the company and is expected to join Airbus' board. Zipse leaves a lasting legacy, particularly as a catalyst for the 'Neue Klasse' project, which stands as BMW's strategic pivot towards a more sustainable automotive future.

(With inputs from agencies.)