The German concern has undergone serious personnel changes. Chairman of the board, 62-year-old Oliver Zipse, who gave the Bavarian automaker 35 years of his life, handed over the post to former board member for production Milan Nedeljkovic.
It cannot be ruled out that the personnel changes were caused by the concern’s weak financial results. Pre-tax profit of the entire BMW group amounted to 2.3 billion euros (approximately 202.5 billion rubles), which is 24.6% lower than a year ago.
If you look only at the automotive division, the situation is worse: profits fell by 33.5% to 1.27 billion euros (about 111.8 billion rubles). The company’s overall revenue fell by more than 8%.
Oliver Zipse downplayed the possible introduction of 25 percent tariffs by US President Donald Trump, calling it more of a negotiating maneuver than a real measure.
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