BMW Appoints New Supervisory Board Leader

BERLIN (Reuters) – BMW's former finance chief, Nicolas Peter, has been appointed to lead the German auto group's supervisory board, taking over from Norbert Reithofer. This change will be officially made at the annual general meeting in May.

According to Handelsblatt, the supervisory board is set to recommend this transition during a meeting next week. Major shareholder Stefan Quandt and employee representatives have reportedly already agreed on the appointment.

BMW did not respond to a request for comment from Reuters, and the company declined to comment on personnel issues.