MUNICH (AFX) - Bayerische Motoren Werke AG's supervisory board is to appoint its head of production, Norbert Reithofer, as the successor to group chief executive Helmut Panke tomorrow, sources said.
BMW has so far not made any announcements about the future of Panke, who turns 60 on Aug 31.
But the German media has reported that his contract is not expected to be renewed when it expires next year because the company's policy is for managers to retire at 60. email@example.com jfb/cml COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited