Stefan Sengewald will become executive vice president of finance and chief financial officer of BMW of North America, effective Saturday, the company said today. He succeeds Guenter Niedernhuber, who has held the position for the past 3½ years. Niedernhuber, 50, is returning to Germany to assume another executive position that will be announced later.
Sengewald, 50, will be responsible for finance, controlling, information technology, purchasing and human resources. Since January 2005 he has been a Munich-based vice president of financial statements for the BMW group.
Sengewald joined BMW AG in 1987 and has held financial positions and overseas posts at BMW de Mexico and BMW Iberica in Spain.