Exclusive BMW CFO Nominated for Allianz Supervisory Board

Friedrich Eichinger, the chief financial officer of German carmaker BMW, is set to add another job title to his resume. Mr. Eichinger has been nominated by the German insurer Allianz to take up a position on its non-executive supervisory board, according to the schedule released by Allianz on Thursday for its upcoming annual meeting. Mr. Eichinger, a career BMW manager who joined the Bavarian carmaker back in 1987, is widely considered the second in command and chief strategist at BMW, behind chief executive Harald Krüger. It is not uncommon in Germany for executives to also take up supervisory roles at other companies. Mr. Eichinger himself already sits on the supervisory board of Allianz’s German subsidiary. If Mr. Eichinger is approved by Allianz shareholders, he will take the place of 70-year-old Peter Denis Sutherland, who plans to step down after six years on the supervisory board, which has the power to hire and fire executives and set overall strategy for the company.