Moving on: After more than four years in the top job, BMW chairman of the board and CEO Harald Krueger will not seek a second term in the role, citing “new professional endeavours” as the reason.

BMW AG chairman of the board of management Harald Krueger has announced he will not seek a second term in the role at the top of the German prestige car-maker as he “would like to pursue new professional endeavours” after just over four years in the top job.

The Munich-based car manufacturer’s supervisory board will meet on July 18 to discuss his successor, and until then Mr Krueger will remain in the CEO position.

“The BMW Group has been my professional home for more than 27 years,” Mr Krueger said in a statement. “After more than 10 years in the board of management, more than four of which as the CEO of the BMW Group, I would like to pursue new professional endeavours and leverage my diverse international experience for new projects and ventures.

“Over the last years, the automotive industry has been shaped by enormous changes, which have brought about more transformation than in the previous 30 years.

“This has demanded tremendous efforts from every employee within the company. For their outstanding commitment, I would like to personally thank each and every one of them.

“It has always been a true honour for me to work with this tremendous team and to set the BMW Group on a path towards a successful future during the most significant transformation of this industry.”

Taking the reins in May 2015, Mr Krueger spearheaded the brand’s push into electrification with the expansion of its plug-in models to include a 3 Series, 5 Series, X5 SUV and Mini Countryman, in addition to 2013’s i3 and 2014’s i8.

While BMW Group sales, including Mini and Rolls-Royce vehicles, have slowly grown under his tenure, from 2,247,485 units in 2015 to 2,490,664 in 2018, the Bavarian brand lost the title of most popular luxury car brand to arch-rival Mercedes-Benz in 2016.

BMW’s development of autonomous vehicle technology was another area in which Mr Krueger was heavily involved, forging strategic relationships with Mercedes-Benz and others during his tenure.

“The BMW Group is a unique company with a long tradition, a great pioneering spirit and a passion for innovation,” he said. “Over the past few years, we have set the strategic course to steer the BMW Group successfully into the future.

“The associates around the world are the greatest strength of the BMW Group. Together, they are on the path to the mobility of tomorrow and I am certain that they will successfully shape the future of our industry and beyond.”

Prior to taking the top job at BMW, Mr Krueger served as head of production for the automotive conglomerate, as well as assuming responsibility for Mini, Motorrad, Rolls-Royce and aftersales. He first joined the company in 1992.

Although it remains unclear if Mr Krueger will remain within the family, BMW chairman of the supervisory board Norbert Reithofer thanked Mr Krueger for his time with the Bavarian brand.

“Over the last quarter century, Harald Krueger has demonstrated unwavering dedication to the BMW Group in all of the various positions he has held,” he said.

“I would like to express my sincere gratitude for his great personal commitment. I have complete respect and understanding for his decision and for his further plans.”

By Tung Nguyen