Norbert Reithofer
Norbert Reithofer(born 29 May 1956 inPenzberg,West Germany) is a German businessman and former chairman of the board of management (CEO) ofBMW.He currently serves as chairman of the supervisory board.[1]
Early life and education
[edit]After finishing hisFachabitur,Reithofer graduated inmechanical engineeringat theMunich University of Applied SciencesinMunich.He then moved on to theTechnical University Munichto study Engineering andBusiness Administration.After graduation, he became research assistant at the university at the Institute for Machine Tools and Business Administration ofJoachim Milberg,under whom he gained hisdoctorate.[2]
Career
[edit]In 1987, Reithofer joined BMW as head of maintenance planning. From 1991 to 1994 he was director of theBody in WhiteProduction Division. From 1994 to 1997 Reithofer then became Technical Director of BMW South Africa. From 1997 to 2000, Reithofer was president BMW Manufacturing Corporation (USA), based inSpartanburg,South Carolina.[3]
In March 2000, Reithofer returned to Munich to join the BMW Board of Management, responsible for production. In 2002, Reithofer and Development ChiefBurkhard Goeschelhalved the standard BMW time it took to reach full production of the new generationE90 3 Series,from six months to three.[4]
On 1 September 2006 Reithofer succeededHelmut Pankeas chairman of the board and CEO of BMW.[5]During his time leading the company, he oversaw a push into lower price categories for BMW and the introduction of a line of electric cars.[6]He also foresaw the effect that the2007–2008 financial crisiswould have on sales and cut back production in time largely to avoid the losses suffered by competitors includingMercedes-Benz.[7]Importantly, he led BMW to record profits, mainly by selling expensive SUVs and luxury cars in China.[8]
Reithofer stepped down early in May 2015 and was replaced byHarald Krüger;instead, he moved to the non-executive role of chairman of the supervisory board.[9]At the time, critics held the move would go against general corporate governance practice as there was no cooling-off period between the two roles.[10]
In 2023, Reithofer was reportedly the highest-paid member of any German company's supervisory board, with a total annual compensation of 610,000 euros.[11]
Other activities
[edit]Corporate boards
[edit]- Henkel,Member of the Shareholders‘ Committee (since 2011)[12]
- Allianz,Member of Joint Advisory Council (since 2007)
- Siemens,Member of the supervisory board (2015–2023)[13][14]
Non-profit organizations
[edit]- Eberhard von Kuenheim Foundation, Member of the Board of Trustees[15]
- Max Planck Society,Member of the Senate[16]
Awards and honours
[edit]- 2005:Grand Decoration of Honour in Gold (Grosses Goldenes Ehrenzeichen) for Services to the Republic of Austria(2005)[17][18]
- 2010:Bayerischen Verdienstorden[19]
- 2012Chevaliers of the Légion d'honneur[20]
References
[edit]- ^Business ProfileBusiness Week
- ^"CV".BMW Group Archive.Retrieved23 July2011.[permanent dead link]
- ^Chairman ProfileArchived2012-03-28 at theWayback MachineBMW Group
- ^"A Role Model For The Team Player".Business Week.2006-10-16. Archived fromthe originalon November 16, 2006.Retrieved2008-05-13.
- ^Dr. Norbert Reithofer to Succeed Helmut Panke as BMW ChairmanBMW News
- ^Jack Ewing (9 December 2014),BMW Chief Norbert Reithofer to Step Down Earlier Than ExpectedNew York Times.
- ^Jack Ewing (9 December 2014),BMW Chief Norbert Reithofer to Step Down Earlier Than ExpectedNew York Times.
- ^David McHughap (9 December 2014BMW gets new CEO; another BMW exec bails for VWAssociated Press.
- ^Andreas Cremer (December 9, 2014),BMW CEO Reithofer to step down early in 2015Reuters.
- ^Harro ten Wolde (May 9, 2015),ISS recommends BMW shareholders vote against Reithofer appointment: FASReuters.
- ^Tillmann Neuscheler (23 November 2023),Vergütungsstudie: Reithofer ist der bestbezahlte AufsichtsratFrankfurter Allgemeine Zeitung.
- ^Shareholders‘ CommitteeHenkel.
- ^Supervisory BoardSiemens.
- ^Angela Maier (16 December 2022),Warum BMW-Mann Reithofer den Siemens-Aufsichtsrat verlässtWirtschaftswoche.
- ^Board of TrusteesEberhard von Kuenheim Foundation.
- ^Senate, as of February 2019Max Planck Society.
- ^"Bundesminister Bartenstein überreicht hohe Auszeichnungen an BMW Top-Manager"(in German). Bundesministerium für Wirtschaft, Familie und Jugend. 2005-06-29. Archived fromthe originalon 2011-09-30.Retrieved2010-07-31.
- ^"Reply to a parliamentary question about the Decoration of Honour"(PDF)(in German). p. 1708.RetrievedDecember 1,2012.
- ^Verdienstorden für verdiente Bayern.In:Mainpost,29 July 2010, retrieved 30 July 2010
- ^"BMW-Chef Norbert Reithofer Ritter der Ehrenlegion"(in German). French Embassy. 2012-03-30. Archived fromthe originalon 2012-07-22.Retrieved2012-03-31.
External links
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