BMW shows no emotion and throws Panke under the bus

BMW Chief Executive Helmut Panke left no doubt in recent weeks that he would have been pleased to have his contract extended beyond the mandatory retirement age of 60. As the "captain of the team," he's having great fun, Panke said earlier this month. But when the company's supervisory board announced the week of July 16 that Production Chief Norbert Reithofer, 50, would succeed Panke as CEO on Sept. 1, the day after Panke's 60th birthday, the energetic physicist switched gears quickly. "Where's the top dog?" he joked, referring to his successor, after a luncheon meeting on July 24 with Reithofer and journalists at the company's Munich research center.

The Spies wish Helmut the best of luck.

They don't get any better.
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PlanoA4 - 7/25/2006 9:37:26 AM

+1 Boost

That would be a lawsuit, in the US.

PlanoA4 - 7/25/2006 9:37:26 AM

+1 Boost

That would be a lawsuit, in the US.

SixxFive - 7/25/2006 11:27:22 AM

+1 Boost

Great article: interesting to read about the BMW culture of team work from the top down and vice versa. Also interesting that Lexus and Infiniti will be building factories in Germany in an attempt to gain more credibility.

phantom330 - 7/25/2006 3:30:12 PM

+1 Boost

I'm sure he's getting a fat retirement settlement, not quite being thrown under the bus.