By David Sachs

BMW will keep Oliver Zipse on as chief executive officer until at least 2026, saying he has strengthened the German luxury car maker's competitiveness.

Zipse, who has been CEO since 2019, has led BMW through a volatile economy and a transition to electric vehicles, the company said Wednesday.

"In a phase of global crises and profound transformation, the BMW Group has not only achieved reliably robust results under his leadership, but has also sustainably strengthened its leading position in global competition," Norbert Reithofer, supervisory board chairman of BMW said.

The supervisory board also appointed Jochen Goller to the management board as head of the customer, brands and sales division. He will succeed Pieter Nota on Nov.1, BMW said.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

September 28, 2023 04:41 ET (08:41 GMT)

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