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Reithofer re-elected chairman of BMW board

from http://tradearabia.com Dr Norbert Reithofer has been re-elected as the Chairman fo the Supervisory Board of BMW AG at a meeting of the board today. He was earlier re-elected to the Supervisory Board for a mandate period of five years at today’s Annual General Meeting. Reithofer has been associated with BMW AG for more than three decades. He joined the company in 1987 and was Chairman of the Board of Management between 2006 and 2015. He has been Chairman of the Supervisory Board since 2015. The Annual General Meeting also newly elected Anke Schäferkordt to the Supervisory Board for a mandate period of five years. The media manager takes over the seat of Prof Renate Köcher, who stepped down early at the end of this year’s Annual General Meeting in agreement with the Supervisory Board. With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is a leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 31 production and assembly facilities in 15 countries; the company has a global sales network in more than 140 countries. In 2019, the BMW Group sold over 2.5 million passenger vehicles and more than 175,000 motorcycles worldwide. The profit before tax in the financial year 2019 was €7.118 billion on revenues amounting to €104.210 billion. As of 31 December 2019, the BMW Group had a workforce of 126,016 employees.

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Harley-Davidson Motor Co. chief operating officer Michelle Kumbier leaving company

by David Schuyler from https://www.bizjournals.com/ Harley-Davidson Motor Co. senior vice president and chief operating officer Michelle Kumbier is leaving the company April 3, Milwaukee-based parent Harley-Davidson Inc. said in a regulatory filing Tuesday. As chief operating officer since October 2017, Kumbier oversaw the Milwaukee-based motorcycle manufacturer’s U.S. and international markets in addition to responsibilities leading product and operations. In the filing with the U.S. Securities and Exchange Commission, Harley-Davidson (NYSE: HOG) did not disclose a reason for her departure. The company did not immediately respond to a request for comment on the filing. Kumbier is the latest high-ranking executive to leave the company in recent months. Those departures include former president and CEO Matt Levatich, a permanent replacement for whom has yet to be hired. Before adding chief operating officer to her responsibilities, Kumbier was senior vice president, Motor Company product and operations. In that role, she led a team of more than 4,500 employees worldwide to bring Harley-Davidson motorcycles, parts and accessories and general merchandise to market. Kumbier joined Harley-Davidson in 1997 in operations purchasing, and has since taken on roles with increasing responsibility in purchasing, strategic planning, new business development, and parts and accessories. Kumbier’s former product and operations responsibilities will be assumed by Bryan Niketh, vice president of product development of the Harley-Davidson Motor Co., who has been promoted to senior vice president of product and operations. Kumbier’s global sales responsibilities as chief operating officer will be assumed by acting president and CEO Jochen Zeitz. In another move, Harley-Davidson Inc. assistant general counsel Paul Krause, who has been serving as interim chief legal officer, has been hired for the role permanently. He’s also been promoted to chief compliance officer and secretary of Harley-Davidson Inc. A number of high-ranking executives have left the company in the span of

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Harley-Davidson grants board seat to investor Impala

#by Svea Herbst-Bayliss from https://www.reuters.com/ (Reuters) – Harley-Davidson Inc (HOG.N) said on Monday it settled a board fight with Impala Asset Management just days after the investor began pressing to replace two directors at America’s oldest and best-known motorcycle maker. An independent director, mutually agreed on by Impala and Harley, will join the board after the company’s annual meeting, which was held in May last year, and before July 31. Impala, which owns roughly 2% of Harley’s stock, nominated two directors two weeks ago as the $2.8 billion hedge fund wanted the iconic American brand to return to its roots after focusing on electric motorcycles and concentrate on its core riders. It had criticized the company for losing market share and for being slow to fix poor returns. In January it pushed for the ouster of Chief Executive Matt Levatich. He resigned in February after five years as CEO during which the company lost more than half of its value. On Monday, the two sides cast aside some differences as the coronavirus outbreak makes it tougher for companies to stay in business and falling stock prices are hurting many investors. Harley and Impala entered the “agreement in the spirit of cooperation during trying times, viewing it as a necessity to move forward,” the company said in a regulatory filing. The $2.7 billion company’s stock fell 4.38% on Monday to $17.02, having tumbled some 50% since the start of the year. Two weeks ago Impala nominated former auto industry executive Brent Dewar and Leo Hindery, Jr., who has public board experience, as directors to Harley’s nine member board. Now neither will be considered for the board seat, according to the agreement. Impala will not be allowed to suggest someone working for the fund for the board seat. Impala is run by

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