Long time Rolls-Royce CEO Torsten Müller-Ötvös to retire
Rolls-Royce Motor Cars has announced that chief executive Torsten Müller-Ötvös will retire, bringing to an end a 14-year stint at the helm.
Long-time boss Müller-Ötvös will leave the iconic luxury automaker at the end of November and be replaced by BMW UK’s chief executive officer Chris Brownridge.
The 63 year-old German businessman is the company’s longest-serving leader since Claude Johnson, the man who brought founders Charles Rolls and Henry Royce together in 1904.
His tenure saw Rolls, renowned for its pricey but stately vehicles, undergo a major transformation and shift further into the super-luxury sector.
Annual sales have surged fivefold during his tenure, while the average price of a Rolls-Royce has doubled to €500,000.
Commenting on the announcement, Müller-Ötvös said: “Leading Rolls-Royce for almost 14 years has been the greatest privilege and pleasure of my professional life.
“To have grown the company and its world-class people to the position it is in today, at the pinnacle of the luxury industry, has been a remarkable adventure.”