BMW has appointed Dr Norbert Reithofer as its new chairman.

He takes over from Dr Helmut Panke on September 1.

The BMW board also appointed Frank-Peter Arndt, to the board of management as Reithofer’s successor with responsibility for production.

Arndt is currently head of the BMW Dingolfing plant. The board also appointed Dr Klaus Draeger to the board of management with effect from November 1. At that date, Draeger will take over responsibility for research, development and purchasing from Professor Dr Burkhard Goschel.

Draeger is currently director of the development department with responsibility for the group’s large model series (BMW 5, 6 and 7-series).