BMW appoints Milan Nedeljkovic as CEO to replace Zipse

(Sharecast News) - German car giant BMW on Tuesday said it had appointed Milan Nedeljković as its new CEO, replacing Oliver Zipse, who has been on the board of management for more than 10 years, spending the last six as boss.

Nedeljkovic, 56, is currently BMW's head of production and has worked for the group since 1993, the company said. He takes on the role as the automaker gets ready to launch models in its all-electric "Neue Klasse" series.

Zipse, 61, will resign by mutual agreement with the board at the end of May 13, 2026. BMW had extended his tenure beyond the usual retirement age of 60.

Reporting by Frank Prenesti for Sharecast.com