BMW taps Milan Nedeljkovic as new CEO amid challenges
BMW announced Tuesday that its head of production, Milan Nedeljkovic, will become the company’s next chief executive, as the German automaker navigates challenges including the shift to electric vehicles and rising competition in China, News.Az reports, citing foreign media.
Nedeljkovic, 56, has been with the Munich-based company since 1993 and is an engineer by training. He will succeed current CEO Oliver Zipse in May when Zipse’s term ends, the company said in a statement.
Currently overseeing BMW’s global factories, Nedeljkovic manages production of both electric and combustion-engine models on the same lines. A key focus for him will be accelerating BMW’s expansion in electric vehicles, a strategy already advanced under Zipse’s leadership.
The Serbian-born executive steps in amid a turbulent period for Germany’s flagship auto sector. BMW, which also owns Mini and Rolls-Royce, faces declining sales in China due to strong local competition, particularly in the EV segment.
Like Mercedes-Benz and Volkswagen, BMW has been affected by U.S. tariffs, though it has fared somewhat better thanks to its largest factory located in South Carolina.
Despite the headwinds, the automaker reported rising profitability in the third quarter, with Zipse noting that BMW had proven “resilient” in the face of challenges.
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