Hyperdrive
BMW CEO Future in Doubt as Tensions Erupt on Tackling Shift
- Management board is divided over partnerships, tech spending
- Decision on CEO contract renewal will be made in June or July
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BMW AG Chief Executive Officer Harald Krueger’s job is on the line over concerns he’s not aggressive enough in steering the luxury carmaker’s titanic shift toward electric and autonomous vehicles, people familiar with the matter said.
Some supervisory board members are questioning whether he’s the right choice to lead the company and will discuss the CEO’s second-term prospects in the coming weeks, the people said, asking not to be identified discussing confidential deliberations. Krueger’s current tenure ends next May, with an announcement on his future due in June or July. The shares rose as much as 0.8% in Frankfurt on Wednesday.