By Leftlane Staff
Monday, Jun 19th, 2006 @ 7:24 pm

In March, Automobilwoche reported that BMW might extend the contract of CEO Helmut Panke beyond the customary 60-year age cutoff. (Generally, BMW internal policy dictates that board contracts expire the year after the member turns 60). This week, the German magazine is reporting that BMW will not extend Panke’s contract. BMW officials did not comment on the magazine report. Under Panke’s direction, BMW has risen to what many would consider today’s most successful high-volume premium automaker. (Picture right is Panke behind the wheel of a new Z4).

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