Posted:
11.12.2024 17:11:00
Internal crises brought leadership changes to BMW, Mercedes
Car makers BMW and Mercedes-Benz are changing their leadership due to crisis caused by growing Chinese competition and weak demand for EVs in Europe, Bloomberg reports
On Wednesday December 11th, Mercedes said its China boss Hubertus Troska will retire in July, to be replaced by product strategy chief Oliver Thöne. The maker of the S-Class sedan has been struggling in the Asian market due to a weaker economy and customers shifting to local brands led by BYD Co Ltd.
At BMW, former Chief Financial Officer Nicolas Peter is set to replace Norbert Reithofer as supervisory board chairman next year, the company announced on December 10th.
“The management changes reflect the sweeping challenges the German auto industry faces. Sales in the critical Chinese market have softened and Europe’s automotive market has been slow to recover. Additionally, Germany’s most important industry faces the risk of steep tariffs after Donald Trump returns to the White House,” the article said.
