Key facts
- BMW appointed Dorothea von Boxberg as its new board member for human resources.
- The appointment is effective September 1.
- Von Boxberg previously served as CEO of Brussels Airlines and held leadership roles at Lufthansa.
- The change follows a recent profit warning issued by BMW.
- BMW plans to accelerate efficiency measures and enter talks with staff representatives.
German automaker BMW has appointed Dorothea von Boxberg as its new board member for human resources, effective September 1. The move comes as the company navigates a challenging period marked by a recent profit warning and the ongoing transition to electric vehicles.
Von Boxberg, who currently serves as CEO of Brussels Airlines and has prior leadership experience at Lufthansa, will succeed Ilka Horstmeier. The appointment was approved by the supervisory board, which highlighted her experience in "transformation processes."
BMW issued a profit warning last month under new CEO Milan Nedeljkovic, signaling a need for further cost-cutting. The European auto industry, particularly German manufacturers, faces significant pressure from the shift to EVs and increasing competition from Chinese automakers. Recent factors like U.S. tariffs and geopolitical uncertainty in the Middle East have added to these difficulties.
Despite these challenges, BMW has not yet implemented the widespread job cuts seen at competitors like Volkswagen and Mercedes-Benz. The company's profit margins are projected to be as low as 1% this year. Following the profit outlook reduction, BMW and its staff representatives are set to begin discussions aimed at accelerating efficiency measures.