BMW Appoints New HR Chief Amid Cost-Cutting Push
Synopsis
BMW has named Dorothea von Boxberg as its new HR chief as the company steps up cost-cutting efforts and prepares for further efficiency measures following its recent profit warning.
Key Highlights
- Dorothea von Boxberg is appointed as a new Member of the Board for Human Resources at BMW.
- Effective September 1, she will succeed Ilka Horstmeier.
- The hire arrives after BMW has moved with the restructuring as part of a recent profit warning.
BMW has appointed Dorothea von Boxberg to be its Board Member for Human Resources as the German carmaker seeks to boost efficiency following a recent profit warning.
BMW’s supervisory board approved the appointment. Next month saw the appointment of Von Boxberg, who is currently CEO of Brussels Airlines and has previously held senior roles at Lufthansa who will take up the HR position from September 1 in succession to Ilka Horstmeier.
Appointment Comes During Restructuring
BMW said von Boxberg has broad experience in handling transformation processes which will help the company adapt to changing industry conditions.
BMW’s appointment comes after the company issued a profit warning last month under new CEO Milan Nedeljkovic, by which time it had promised more spending cuts.
The ongoing transition to electric vehicles, increased competition from Chinese manufacturers, greater US tariffs and conflict-related uncertainties are weighing on the already beleaguered European automotive sector.
BMW has so far sidestepped the sweeping job cuts unveiled by rivals Volkswagen and Mercedes-Benz, though it faces pressure on that front as well.
BMW and employee representatives will start talks on updating productivity measures in December after trimming its profit outlook, with margins set to tumble to as low as 1% this year.
Source: Reuters
At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
