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BMW names new CEO, chairman and head of development

Big changes are afoot in the top ranks at BMW, as the Bavarian automaker has announced not just one, but several appointments in the top floors of its towering headquarters in Munich in what the company itself is referring as "a generational change" in its leadership. The biggest change relates to the chairman of BMW's management board – German-speak for the company's chief executive officer. Effective at the end of the company's Annual General Meeting on May 13, 2015, the company will be run by Harald Kruger. The 49-year-old mechanical engineer has been with BMW since 1992 and has sat on its board since 2008, and has until now been responsible for production for the entire BMW Group. The chairmanship of the board of management currently belongs to Dr. Norbert Reithofer, whom the management is endorsing to chair the supervisory board (which Americans might call the board of directors). That role in turn is currently held by Professor Joachim Milberg, who will step down from his position in order to make way for Reithofer to take his place. Milberg is earmarked to remain with the company to oversee its corporate social responsibility and charitable activities. BMW has also announced the appointment of Klaus Frohlich to serve as its head of development with immediate effect. In his new capacity, Frohlich replaces Dr. Herbert Diess, who in turn has left Munich to take over the Volkswagen passenger car division. Below you'll find statements from both BMW and VW on their new appointments. BMW Group takes steps to initiate a generational change at the head of the Board of Management and Supervisory Board 09.12.2014 - Harald Kruger to become Chairman of the Board of Management in May 2015 - Dr. Norbert Reithofer proposed to succeed as Chairman of the Supervisory Board - Prof. Joachim Milberg to take leading role in the BMW Group's worldwide CSR activities and charitable foundations - Klaus Frohlich appointed to Board of Management with responsibility for Development Munich . At its meeting today, the Supervisory Board of BMW AG took the first steps to initiate a generational change at the head of the company's Board of Management and Supervisory Board. Harald Kruger will become Chairman of the Board of Management effective the end of the Annual General Meeting on 13 May 2015. The current Chairman of the Board of Management, Dr. Norbert Reithofer, will be put forward for election to the Supervisory Board at the 2015 Annual General Meeting.

Company car offers in decline, but not at The Cheesecake Factory [w/poll]

As businesses look to keep high-level employees happy, it seems that use of company cars can still be an effective method, although fewer companies are employing it. According to Businessweek, only about 25 percent of companies offer company vehicles as a perk, while less than half give allowances for employees to use their personal vehicles for work purposes.
The report says that one business still in the practice of handing out company cars is The Cheesecake Factory, which offers the benefit to top managers. And we're not talking about some econobox, either. The article indicates the restaurant chain hands out BMWs on a three-year basis - although the company's own report says that the type of vehicle "varies with the executive's level."
Still, we mostly agree with the article's conclusion that money is the best way to keep employees or attract new ones, even if a corporate car is a big perk. What do you think? Let us know, in the poll below, whether a company car could sway you to work for a certain company (not just the Cheesecake factory, where the "Glamburgers" portion of the menu alone is enough to keep a guy hanging around).

BMW recaps the glory days of M3 performance

Next in the BMW series chronicling the M3 come the second-generation E36 and third-generation E46 models. The E36 ran from 1992 to 2000, upping the game over its predecessor with a 3.0-liter inline-six that started out with 286 horsepower in Europe, or 240 hp when it came to the US in 1994. By the time it ended its run in 1999, it had vastly expanded the lineup and ushered in some key BMW firsts. Going beyond the coupe-only E30, the E36 added sedan and convertible bodystyles, and gave us BMW's Vanos variable cam timing system and the six-speed SMG sequential gearbox. The E46 that launched in 2000 would pare down the bodystyles to coupe and convertible yet go further with design and technical changes. The 3.2-liter inline-six shared only three minor components with the previous motor and put out 333 horsepower at 7,900 rpm. It introduced the power dome, fender vent, and inset exhaust tips as design trademarks. The special editions included the Euro-only M3 CSL, and the second-generation homologation special M3 GTR with a 493-hp, 4.0-liter V8, of which just ten were made. Having made the complete transition from racer for the street to comfortable, perfectly balanced sports car, BMW sold even more of the E46 with just two bodystyles than the E36 with three. Check out the video on the E36 above, then enjoy the look back at the E46 below. If you want to catch up on the latest BMW M3 and its M4 siblings, take a look at the video at the very bottom. Related Video: