Change at the Top at BMW

(Press release also available in Portuguese language) Munich. Professor
Joachim Milberg (58) has requested the Supervisory Board of BMW AG in
their meeting on 4 December 2001 to relieve him from his office as the
Chairman of the Board of Management upon expiry of the Annual General
Meeting on 16 May 2002. The Supervisory Board has accepted his request.
The Supervisory Board has appointed Dr Helmut Panke (55), a Member of
the Board of Management of BMW AG since 1996 and currently responsible
for Financial Affairs, to the position of the new Chairman. Panke will
be taking over Chairmanship of the Board of Management in May 2002.
The Supervisory Board has also decided to advise the Annual General
Meeting in May to appoint Milberg to the Supervisory Board. In the
words of Volker Doppelfeld, the Chairman of the Supervisory Board of BMW
AG, "the personal decision taken by Joachim Milberg comes in a time
of successful reorientation of the BMW Group. Under the Chairmanship of
Joachim Milberg BMW is currently experiencing the most successful
period in its history. The Supervisory Board and the entire Company
wish to thank Professor Milberg here and now most cordially for this
exceptional performance and express their utmost recognition and
acknowledgment. I am looking forward to close cooperation with Mr
Milberg on the Supervisory Board and with Mr Panke in his new
function." The Supervisory Board has also accepted the wish
expressed by Professor Werner Sämann (59) to conclude his work as
a Member of the Board of Management as of the end of the year.
Following the reorientation of the BMW Group's activities in Great
Britain concluded under Professor Sämann's guidance, Sämann
will be entering retirement after leaving the Company. The Supervisory
Board thanks Professor Sämann for his successful work. (Press
release also available in Portuguese language) MUDANÇA NO ALTO
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