Milan Nedeljkovic Set to Become New BMW CEO as Oliver Zipse Steps Down

BMW is preparing for a leadership transition as Milan Nedeljkovic, currently the company's production chief, has been appointed to succeed Oliver Zipse as Chief Executive Officer. The supervisory board finalized this decision and announced that Nedeljkovic will officially assume the role in mid-May during the company's annual general meeting.

Oliver Zipse, who has served as BMW's CEO since 2019, will conclude his tenure after guiding the company through significant industry challenges and strategic milestones. During his time as CEO, Zipse played a pivotal role in steering BMW through the global COVID-19 pandemic and was instrumental in initiating the 'Neue Klasse' project, a major component of BMW's electric vehicle strategy. The supervisory board recognized his leadership and the progress made under his direction, noting the company's ability to navigate turbulent times and maintain a robust business model.

Nedeljkovic's career at BMW spans over three decades, starting as a trainee in 1993. He has held various positions across several BMW production sites, including key roles in Oxford and Leipzig. Notably, he was responsible for overseeing the launch of BMW's i3 electric vehicle at the Leipzig plant, further solidifying his expertise in automotive manufacturing and innovation. Since 2019, Nedeljkovic has served on the board as the head of production, where he led the preparations for the 'Neue Klasse' platform, which is central to BMW's future in electrification.

Nedeljkovic brings a diverse background to the leadership team, holding both German and Serbian citizenship. Born in Serbia in 1969, he relocated to Germany as a child. His academic background includes engineering studies at Aachen and the Massachusetts Institute of Technology, followed by a doctorate in mechanical engineering from the Technical University of Munich. His extensive experience within BMW and knowledge of both conventional and electric vehicle production are expected to benefit the company's ongoing transformation in the automotive sector.

BMW's supervisory board highlighted Nedeljkovic's strategic vision, strong execution capabilities, and commitment to efficient use of resources, both economic and environmental. The board also emphasized his clear focus on sustainability and innovation, key pillars for BMW's continued success as the automotive industry shifts towards new technologies and stricter environmental standards.

The appointment has received support from both management and employee representatives. The company's employee council expressed confidence in Nedeljkovic's leadership and acknowledged the positive working relationship he has maintained within the organization. They anticipate continued collaboration and a smooth progression of BMW's long-standing tradition of cooperative management-labor relations.

Nedeljkovic will begin his contract at the age of 57, with the agreement set to run until 2031. This appointment follows the precedent set by Zipse, who remained in the role beyond the usual executive age limit, allowing for continuity in leadership during a critical period for the company. As Nedeljkovic prepares to take on the CEO role, BMW aims to further advance its strategy for electrification and innovation, maintaining its position among the leading global automotive manufacturers.