MUNICH -- BMW CEO Helmut Panke likely won't have his contract extended by the automaker's supervisory board past 2007, reports Automobilwoche in a story to be published Monday, June 19.
Panke is 59 and will turn 60 later this year. In the past, BMW board members have retired when they reach 60 years old.
Automobilwoche, which like Automotive News is owned by Crain Communications Inc., released details of the story on Saturday.
A media report in May said BMW was considering giving Panke a contact extention until 2010.
Automobilwoche said BMW's supervisory board would not discuss Panke's contract at the upcoming July meeting, and probably not until September.
A BMW spokesman said the company did not comment on speculation about staff matters.
Reuters contributed to this report
You may e-mail Dale Jewett at [email protected]