As we announced a few days ago, BMW Group is preparing for a significant change in leadership at the helm of its Supervisory Board. This week, the Supervisory Board has officially nominated Dr. Nicolas Peter for election as a member of the Supervisory Board at the 2025 Annual General Meeting. The current Chairman of the Supervisory Board, Dr.-Ing. Norbert Reithofer, will complete his tenure as planned.
After two successful terms, Reithofer will step down, adhering to the Supervisory Board’s self-imposed age limit and corporate governance standards. Reithofer’s leadership has been instrumental in shaping BMW’s trajectory over the years, and his departure will pave the way for Peter’s expertise and fresh perspective.
Nicolas Peter: A Veteran with a Global Perspective
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Dr. Nicolas Peter brings a wealth of experience and a deep understanding of the automotive industry. He served as BMW AG’s Board Member for Finance from January 2017 to May 2023, overseeing the company’s financial strategies during a period of global transformation. Before that, Peter held various senior management positions within the BMW Group, specializing in Finance and Sales across several European markets. His role as former Chairman of the Board of Directors at BMW Brilliance Automotive has also equipped him with unparalleled insights into the Chinese market, one of BMW’s most crucial regions.
A dual German and French citizen, Peter holds a doctorate in law, reflecting his strong analytical foundation and international perspective. He is currently a member of two high-profile supervisory bodies: KION GROUP AG, where he chairs the audit committee, and the Board of Directors of FORVIA SE in France. Additionally, Peter serves on the German Corporate Governance Code’s Government Commission, highlighting his commitment to best practices in corporate governance.
In a press release, BMW says that Peter’s candidacy aligns with the German Corporate Governance Code, as he has not held a position within BMW AG since May 11, 2023. This ensures the required two-year cooling-off period will be completed by May 2025.
What Is The Supervisory Board?
The BMW Supervisory Board is a group of 20 people responsible for overseeing and guiding the company’s leadership. It ensures that BMW’s management makes decisions that align with long-term goals, legal standards, and the interests of both shareholders and employees. Half of the board members are elected by shareholders, while the other half represent the company’s employees, giving workers a voice in major decisions. This system, common in German companies, helps ensure transparency, accountability, and balance in how BMW operates.
First published by https://www.bmwblog.com
Source: BMW BLOG
