BMW names new HR chief amid cost-cutting efforts

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.