BMW May Raise Executive Retirement Age

BMW AG's supervisory board is likely to lift the mandatory retirement age for senior executives by two years to 62, Frankfurter Allgemeine Zeitung reports. The German newspaper cites unidentified members of the supervisory board.

Such a change could extend the tenure of CEO Norbert Reithofer, who will be 60 when his contract expires in 2016. His predecessor Helmut Panke retired in 2006 at age 60 after lobbying unsuccessfully to amend the rule.