Bayerische Motoren Werke AG may extend the contract of its chief executive Helmut Panke, company sources said according to an article to appear in tomorrow's Automobilwoche.
According to the sources, Panke's contract, which expires in May 2007, could be extended by the supervisory board as early as this spring.
If the contract is extended, it would be against the company's internal regulation that dictates that board contracts expire the year after the member turns 60.
AUTO SPIES PERSPECTIVE: Helmut is the BEST in the business. If they don't extend his contract, their board is intellectually bankrupt.
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