Rolls-Royce boss in surprise resignation

18th October 2004, Comments 0 comments

18 October 2004, MUNICH - In a surprise development, the head of BMW's luxury carmaker Rolls-Royce, Karl-Heinz Kalbfell, has stepped down after only about five months, BMW disclosed Monday.

18 October 2004

MUNICH - In a surprise development, the head of BMW's luxury carmaker Rolls-Royce, Karl-Heinz Kalbfell, has stepped down after only about five months, BMW disclosed Monday.

A spokesman at the Munich-based car concern said Kalbfelhad quit in order to work for another company in the automobile industry. The spokesman did not identify the new company.

In the interim while BMW searches for a new executive, BMW chief financial officer Stefan Krause will take over at Rolls-Royce.

Kalbfell had assumed the chief executive position at Rolls-Royce in late May, taking over from Tony Gott. Prior to that, Kalbfell, 54, had been chief of marketing at BMW and had worked to build up sales of Rolls-Royce cars in North America and Asia.

Sales of the luxury car so far this year has come to 485. BMW's full-year target for Rolls-Royce cars is 1,000.

DPA

Subject: German news

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