Report: BMW CEO to make changes in top team image

Germany’s Manager Magazin is saying that BMW plans to name new finance and purchasing chiefs for its top management as current head of BMW, Harald Krueger, wants a younger management team for the German automaker’s future.

Krueger, 50, who took over BMW from Norbert Reithofer, is looking to appoint Nicolas Peter instead of current finance chief Friedrich Eichiner, as the monthly magazine reports from anonymous company sources. BMW refused to comment on the information.

The BMW CEO is also looking to add a new purchasing chief for the German brand and to make other executive changes if the supervisory board agrees to them by the end of August.

At the beginning of May, BMW registered lower quarterly operating profit due to currency moves and the pressure on limousine prices in a change in U.S. drivers’ preference to SUVs.

Peter, who is 54, is currently the head of sales for BMW Europe. Eichiner will turn 62 before the annual shareholders meeting set to take place in 2017. He has already extended the contract beyond the company’s age limit of 60 for it management board executives.

Klaus Draeger, current chief of purchasing for BMW, will also leave the company because of his age, but a decision for his replacement is yet to be made. Manager Magazin added that the most likely to fill in his shoes will be Markus Duesmann, head of powertrain BMW Sauber F1 team.

The German premium automaker has also announced this week a “strategic investment” in Scoop Technologies, a software company that offers a carpooling mobile application called Scoop.