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BMW Hosts First In-Person AGM in Five Years, Marks Leadership Shift

Shareholders convene in Munich as Norbert Reithofer steps down, with a vote pending on virtual meetings for the next five years.

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Overview

  • BMW's annual general meeting returned to an in-person format for the first time since 2019, with 3000 shareholders attending at Munich's Olympiahalle.
  • CEO Oliver Zipse emphasized the importance of face-to-face interaction during times of global economic uncertainty, citing challenges like US tariffs and China's market slowdown.
  • Longtime supervisory board chairman Norbert Reithofer officially stepped down after 38 years at BMW, with former CFO Nicolas Peter nominated as his successor.
  • Shareholders are set to vote on a proposal to authorize virtual AGMs for the next five years, with BMW committing to at least one in-person meeting during this period.
  • Environmental activists staged minor protests during the meeting, while shareholder representatives advocated for more frequent physical gatherings.