Hyperdrive
BMW Names New CFO as Earnings Underwhelm Relative to Mercedes
- Head of controlling Walter Mertl to succeed Nicolas Peter
- Carmaker also reported underwhelming fourth-quarter earnings
The BMW Corp. booth at the Tokyo Auto Salon in Chiba.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
BMW AG appointed a new chief financial officer as the German luxury-car maker spends billions of euros on shifting to electric cars.
Walter Mertl, 49, will in May succeed Nicolas Peter, 60, who is stepping down after reaching the company’s usual age limit for executive board members. Mertl has held managerial positions in finance, sales and controlling in Germany and the UK, BMW said Thursday.