BMW said Tuesday its head of production, Milan Nedeljkovic, will take over as chief executive as the German auto giant contends with challenges ranging from the electric shift to Chinese competition.
An engineer by training and an employee of the Munich-based manufacturer since 1993, the 56-year-old will succeed current CEO Oliver Zipse in May when he reaches the end of his term, the group said in a statement.
Nedeljkovic currently oversees the group’s factories worldwide, which produce both electric and combustion engine models on the same production lines.
A key task will be advancing BMW’s expansion of its electric vehicle (EV) offerings, already well underway under Zipse’s leadership.