BERLIN -- BMW plans to appoint new finance and purchasing chiefs as CEO Harald Krueger builds a younger management team to lead the automaker into the future, a German business magazine reported.
Krueger wants to replace finance chief Friedrich Eichiner with Nicolas Peter, unidentified company sources told Manager Magazin.
Krueger also wants to install a new purchasing chief and other executive changes are possible, with BMW's supervisory board due to decide by the end of the summer, the magazine said in a report published Thursday.
Peter, 54, is currently head of sales in Europe. Eichiner will turn 62 shortly before the 2017 annual shareholders meeting. He had already extended his contract beyond the automaker's usual age limit of 60 for management board executives.
Purchasing head Klaus Draeger, 59, is also leaving due to his age, but a decision has not yet been taken on his successor, although a favorite is Markus Duesmann, the magazine said.
Krueger, 50, took over as CEO from Norbert Reithofer a year ago.
Earlier this month, BMW reported lower quarterly operating profit, hit by adverse currency moves and pressure on the prices of sedans as drivers in the U.S. in particular switch to SUVs.
BMW declined to comment.