Harald Krueger, the new CEO of BMW, passed out on stage at the Frankfurt Auto Show on Tuesday last month. During a press appearance, Krueger passed out as he was discussing the most recent models from BMW. After spending the most of a week recovering, the BMW CEO went back to work. According to a BMW official, “He’s back at work and feeling 100 percent fit” last month.
Krueger now spoke to German media for the first time since the terrible tragedy and described the circumstances. I’m okay now, Krueger declared. I probably shouldn’t have presented in the first place because I hadn’t recovered from a few international excursions when I was in Frankfurt.
He continues by describing his feelings following the fainting occurrence. However, Krueger said, “I was also sad that I didn’t get to display what our team had planned for the press conference.” “Well, it wasn’t very great that it happened live – in front of more than 300 journalists with running cameras,” Krueger said.
The CEO of BMW highlights the assistance from his coworkers as well as the medical counsel obtained. According to Krueger, “the doctors urged me to heal at home for a few days, which I did.” “What was fantastic was the tremendous support I received from supervisors, who informed me that it might have happened to them too or that it had already occurred to them, just not in quite the same way. After all, managers are only human too.
What can be learned for the future? I discovered that I need to concentrate more on what matters the most. And I’m making sure that my personal and professional lives are well balanced.
Krueger and BMW are getting ready for 2016, which will mark the brand’s 100th anniversary and feature some thrilling new BMW Group production cars and ideas.
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BMW CEO Kruger resigns
Harald Kruger, the group CEO of BMW, will not run for re-election. BMW Communications, in a photo
Just when BMW is beginning to transform into the daring, new world of electrification and the impending tightening of Europe’s pollution standards, the company is losing its CEO.
Harald Kruger, 53, stated today that he would not seek re-election as BMW’s CEO at the organization’s Supervisory Board meeting on July 18. In April of next year, his contract will end.
According to sources, BMW is unlikely to look for leadership from outside the firm, leaving Oliver Zipse, the board member for production, and Klaus Frohlich, the board member for research and development, as the top candidates to succeed him.
Few people have been surprised by the decision, as Kruger is well aware of the weight of his position in comparison to other German giants like Herbert Diess of Volkswagen and Dieter Zetsche of Daimler.
He did, in fact, pass out on stage at the Frankfurt auto show four years ago during his first public speech as CEO, and his health has since been precarious.
Since the Quandt family is the BMW Group’s largest shareholder, BMW has indicated that it will utilize the Supervisory Board meeting to discuss a replacement.
In a statement, Kruger stated, “The BMW Group has been my professional home for more than 27 years.”
“I would want to pursue new professional pursuits after more than 10 years on the board of management, more than four of them as the CEO of the BMW Group.”
Volkswagen Group CEO Herbert Diess at the organization’s annual general meeting in May. Photo:… [+] AP Michael Sohn/File
However, during Kruger’s tenure as BMW’s CEO, it lost its position as the largest luxury brand in the world to Mercedes-Benz and gave up its electrification lead over its German rivals by failing to produce successors to the i3 and i8 innovation specials.
The aim of 25 electric and plug-in production cars arriving two years early, at the end of 2023, was announced by Kruger two weeks ago in an attempt to address this.
Additionally, it can be a sign of weakness for Norbert Reithofer, the current Supervisory Board Chairman and former CEO of the BMW Group who advocated for Kruger to succeed Diess.
After managing brands like Audi, Volkswagen, Porsche, Seat, Skoda, Bentley, Bugatti, Ducati, and Lamborghini, as well as Volkswagen Commercial and even the Scania and MAN trucking brands, Diess went on to lead the Volkswagen brand and then the Volkswagen Group, increasing annual sales from two million to more than ten million vehicles.
The breakdown of the BMW CEO emphasizes executive stress.
On Tuesday, September 15, 2015, in Frankfurt, Germany, at the IAA Frankfurt Motor Show, Harald Krueger, chief executive officer of Bayerische Motoren Werke AG (BMW), is aided after passing out at a BMW news conference.
One seems evident from the little that is known about Harald Kruger’s breakdown at the Frankfurt auto show. Even though he was feeling sick before taking the stage, someone—probably Mr. Kruger himself—decided to continue with the presentation.
Was the choice sound? Undoubtedly, it was understandable. He was scheduled to speak at his hometown car show as the new chief executive. It would have looked horrible to cancel. It undoubtedly would have fueled rumors.
CEO of BMW collapses on stage, as seen on camera
At the start of Harald Kruger’s presentation at the Frankfurt Motor Show in Germany, the audience gasped as his voice began to tremble and he appeared wobbly on his feet. He then staggered back and collapsed on the floor.
Astonished, the CEO was led off stage by three men who went to his side and assisted him in standing.
“Because of this, the press conference was postponed so that Mr. Kruger could receive medical attention. Mr. Kruger is making a good recovery and his health is stable.”
According to BMW, Kruger, who turns 50 next month, is now at home. He was under the weather prior to the presentation due to recent exhausting travel, but he nevertheless chose to go ahead with it, the company informed the Associated Press.
In the middle of a press conference at the Frankfurt Auto Show on Tuesday, BMW CEO Harald Krueger passed out.
During the first five minutes of the unveiling of the new lineup from the German automaker, Krueger lurched backward and collapsed onto his back.
Personnel raced to assist Krueger get up again, and as he was picked up and escorted off stage by staff, he rubbed the back of his head and appeared stunned.
The 49-year-old Krueger had lately traveled extensively and was feeling unwell prior to the presentation, but he decided to go ahead with it, according to BMW spokesman Maximilian Schoeberl.
They have ruled out anything dangerous, therefore his condition is not concerning, Schoeberl added.
The company’s CFO moderated a roundtable discussion with journalists that Krueger was supposed to host.
Why did the CEO of BMW lose his job?
BMW’s supervisory board announced that current CEO Harald Kruger will resign “to pursue new professional interests,” causing a minor organizational shuffle. However, according to a report from the Associated Press, Kruger will step down from his position when his tenure ends in 2020 as a result of the first quarter’s subpar financial results.
Over the course of his nearly three decades with the BMW Group, Kruger spent more than ten of those years on the board of management of the company, including four years as its CEO. When he passed out during a press conference at the 2015 Frankfurt Motor Show due to exhaustion, he also attracted notice.
After receiving a $1.6 billion punishment in an anti-trust lawsuit, regulators claim that BMW suffered severe financial and market share losses. Because it is pursuing better mobility services, autonomous vehicle technology, and electric vehicles in the next years, BMW also had to deal with greater upfront expenses for some of its investments in new technologies.
Because of this, the business’s car segment was unable to turn a profit, but its financial services and motorbike divisions maintained strong margins.
“I’ve spent more than 27 years working for the BMW Group. I would want to pursue new professional pursuits and use my broad worldwide expertise for new projects and undertakings after more than 10 years on the board of management, more than four of which I spent as the CEO of the BMW Group “According to Kruger’s official statement.
In May 2015, Dr. Norbert Reithofer was succeeded as the company’s CEO by Kruger, who has been mostly in charge of the Munich automaker’s strategic alliances in recent years. Some of these initiatives included advancing BMW’s plans for electric vehicles and some of the mobility services the corporation now provides.
Reithofer still commended Kruger’s achievements at BMW and wished him luck on his new endeavor despite the dismal financial outcomes.
“Harald Kruger has consistently shown his unshakeable commitment to the BMW Group over the past 25 years in all of the roles he has held. I want to sincerely thank him for his outstanding personal devotion. I fully accept and comprehend his choice as well as his future ambitions “Reithofer made the statement. He continues to serve as BMW AG’s Chairman of the Supervisory Board at this time.
What transpired to the CEO of BMW?
Oliver Zipse took over as CEO of BMW on August 16, 2019, when Harald Kruger, a German businessman, declined to be considered for contract renewal in 2020. Kruger was born on October 13, 1965, in Freiburg im Breisgau, West Germany.
What is the background of BMW?
Bayerische Motoren Werke GmbH, or the Bavarian Engine Works Company, is what the abbreviation BMW stands for. The corporation was founded in the German state of Bavaria, hence the name. Additionally, it shows the original product line of BMW: different application-specific engines
Is BMW losing ground?
Even while deliveries of electric vehicles increased during the same period, BMW AG reported an almost 20% fall in sales in the second quarter. The Munich-based automaker reported Friday a 28% reduction in China and a drop in sales to around 563,536 BMW, Mini, and Rolls Royce automobiles. Sales decreased by roughly a percent in both Europe and the US.
What exactly is the primary issue with BMWs?
Overheating engines, gearbox troubles, oil leaks, and fuel pump issues are a few of the most prevalent BMW issues.
A
Even while we nowadays tend to hope for (or at least anticipate) few to no issues when purchasing our cars, there are no flawless automakers. Even the most reputable manufacturers create cars that unlucky buyers have problems with. A
Mercedes or BMW, who is wealthier?
The 19th edition of Interbrand’s Best Global Brands is now available. These are the top 100 brands in the world by value. The most valued brand is Apple, which is worth $214 billion. The list included several automakers, with two ranking in the top 10.
Toyota, the main brand of the Toyota Motor Corp. (NYSE: TM), which came in eighth overall on the list, is the most valuable auto brand, according to Interbrand. Its estimated value increased by 6% to $53 billion. It competes with Volkswagen for the top spot in terms of automobiles produced globally most years.
Two luxury brands from Germany come next. Mercedes placed ninth overall among automakers with $47 billion, a 2 percent increase. With a $41 billion valuation, down 1%, BMW was rated 13th.
Honda Motor Corp. Ltd. (NYSE: HMC), Japan’s second-largest automaker, ranked 20th with $24 billion, an increase of 4%. At $14 billion, up 3%, the Ford brand of Ford Motor Co. (NYSE: F) was ranked 35th. Hyundai, a South Korean automaker, came in at number 31 with $14 billion, an increase of 3%.
The Nissan brand, which is owned by the third-largest automaker in Japan, came in at number 40 with a $12 billion, or 6%, increase in brand value. With a brand value of $12 billion, up 6%, Volkswagen came in at number 41. Audi, a Volkswagen stablemate, came in at number 41 with a brand worth of $12 billion, an increase of 1%. Porsche, another Volkswagen brand, came in 52nd with $11 billion, an increase of 6%.
South Korean automaker Kia, which ranks 71st on the list, has a brand value of $7 billion, up 4%. At $6 billion, Land Rover moved up two places to 78th place. Ferrari, a specialized ultra-luxury vehicle manufacturer, came in at number 80 with $6 billion, up 18%. Mini by BMW, which increased by 3% to $5 billion, was rated 90th.
Subaru from Japan, which was new to the list and ranked 100th in terms of brand value, had a $4 billion brand value. No brands from General Motors were included in the Top 100 list.
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