AG says Supervisory Board Chairman Volker Dopperfeld will not seek re-election to the post at its annual meeting in May due to retirement age requirements.
The decision paves the way for formerManagement Board Chairman Joachim Milberg to assume the post.
The German luxury car maker says the remaining members of the Supervisory Board have agreed to Milberg’s appointment. Milberg ran BMW’s day-to-day operations from February 1999, when then-Chairman Bernd Pischetsrieder was ousted due to the Rover acquisition debacle. He remained chairman of the Management Board through May 2002, when he left to return to teaching, giving way to current Chairman Helmut Panke.
Separately, BMW also says it expects overall global sales for the BMW, Rolls-Royce and Mini brands to post their best-ever monthly sales results in March, with more than 113,000 units sold.
The auto maker also expects first-quarter volume to be near 265,000 units, a 1% improvement over like-2003’s 261,570. These figures should confirm BMW’s forecast to achieve sales volume growth in 2004, shattering 2003’s overall sales record of 1.1 million units.