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It was a memorable day at BMW: the Supervisory Board met on February 5, 1999, because Prof. Wolfgang Reitzle was supposed to be the new CEO after Bernd Pischetsrieder had to vacate his chair because of the unfortunate Rover purchase.
The BMW press release reads literally:
"Realignment and strengthening of the board
At its meeting today, the BMW Supervisory Board was informed by the Board of Management about the company's situation - particularly at Rover.
At this meeting, Bernd Pischetsrieder (50), Chairman of the Board of Management of BMW AG, asked the Supervisory Board to release him from his position. The Supervisory Board granted this request and thanked him for his more than 25 years of successful work at BMW.
Dr. Wolfgang Reitzle (49), responsible for "Market and Product" on the Board of Management, also asked for the release from office, which the Supervisory Board also accepted - combined with thanks for its more than 20 years of successful work for BMW.
The supervisory board appointed Professor Dr.-Ing. Joachim Milberg (55), currently for
"Engineering and production" in the board responsible for the new chairman of the board. "
However, there were strange signs in the run-up to this meeting and the chairman of the supervisory board Eberhard v. Kuenheim made a memorable mistake that was supposed to prevent Wolfgang Reitzle from doing his previous work with v. Kuenheim wrote the inaugural address as the new CEO. Instead, he started his journey home from his place of work at Petuelring that evening after asking for the release from all offices.
How it came about, how Ferdinand Piech reacted and how Prof. Wolfgang Reitzle dealt with what he calls "life changing event", he tells in this video.
Photo: © Karsten Arndt, Farbbild.com
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