BMW Announces Board of Management Changes
Professor Joachim Milberg, the chairman of BMW Board of Management, has notified the supervisory board of BMW AG that he will resign as chairman at the annual meeting May 16, 2002.
Dr. Helmut Panke, the member of the Board of Management responsible for Financial Affairs, has been appointed chairman beginning in May 2002. He has served on the Board of Management since 1996.
The Supervisory Board has also decided to advise the Annual General Meeting in May to appoint Milberg to the Supervisory Board.
“The personal decision taken by Joachim Milberg comes in a time of successful reorientation of the BMW Group. Under the Chairmanship of Joachim Milberg, BMW is currently experiencing the most successful period in its history,” said Volker Doppelfeld, the chairman of the Supervisory Board of BMW AG.
“The Supervisory Board and the entire Company wish to thank Professor Milberg here and now most cordially for this exceptional performance and express their utmost recognition and acknowledgment. I am looking forward to close cooperation with Mr. Milberg on the Supervisory Board and with Mr. Panke in his new function.”
Current photos of the Board Members of the BMW AG may be found in the Press Club at www.press.bmwgroup.com.