Official: BMW extends CEO Norbert Reithofer’s contract

Press Release: At its meeting today, the Supervisory Board of BMW AG extended the contract of Chairman of the Board of Management Dr. Ing. Norbert Reithofer (54), until 2016. Dr. Reithofer has been a member of the Board of Management since 16 March 2000, and Chairman of the Board of Management of BMW AG since 1 September 2006.

Professor Dr. Ing. Joachim Milberg, Chairman of the Supervisory Board of BMW AG, remarked after the meeting on 29 September 2010 that: “This step will provide continuity over the years ahead and ensure trust and constructive cooperation between the Supervisory Board and the Board of Management.”

Manfred Schoch, Chairman of the General Works Council, said after the Supervisory Board meeting: “Dr. Reithofer’s reappointment will allow us to maintain the successful cooperation between the Board of Management and the Works Council. I am confident that all of us here at the BMW Group will continue working towards the same goals and that we can therefore be optimistic about the future.”