BMW announced that Milan Nedeljković has been appointed Chairman of the Board of Management, succeeding Oliver Zipse.

Nedeljković joined BMW as a trainee in 1993, worked his way up from the factory floor, and served as plant manager in Munich, later overseeing global quality management before joining the Board of Management to head global production, where he led the development of the iFactory flexible production system.

He will drive the rollout of the "Neue Klasse" models and address market competition and profitability pressures.