October 18 2004   Source: Rolls-Royce: Goodwood

Rolls-Royce CEO To Leave BMW Group

Munich/Goodwood Karl-Heinz Kalbfell (54), Chairman and Chief Executive of Rolls-Royce Motor Cars Ltd., has asked the BMW Group to accept his resignation. Kalbfell will take over new responsibilities outside the BMW Group.

With immediate effect, Stefan Krause, member of the Board of BMW AG responsible for finance, will take the helm at Rolls-Royce Motor Cars in addition to his current role. Krause will remain in this position until a new Chairman and Chief Executive is named.