FRANKFURT — BMW CEO Harald Krueger will not make himself available for a contract extension after 2020, pre-empting deliberations about whether to give him another five-year term at the automaker.
“Harald Krueger today informed the Chairman of the Supervisory Board that he will not seek another term of office beyond his current term running until 30 April 2020,” BMW said in a statement on Friday.
Krueger, 53, has led BMW since 2015, after becoming the youngest CEO of a major carmaker at the time.
The supervisory board will discuss his succession at a meeting on July 18, BMW said.
“For more than 27 years, BMW has been my professional home,” Krueger said in the statement. “After four years as CEO, I want to seek new challenges and apply my extensive international experience in new tasks and projects.”
In May, Bloomberg reported that some supervisory board members were questioning whether Krueger was the right choice to lead the company.
Handelsblatt reported last month that there…