Torsten Muller-Otvos, the Rolls-Royce CEO who transformed an aging brand into a coveted symbol of success for pop stars, athletes, and young entrepreneurs, is stepping down after 14 years.
Rolls-Royce announced on Thursday that Muller-Otvos, 63, the longest-serving CEO of Rolls-Royce in almost a century, will retire on December 1. He will be succeeded by Chris Brownridge, who currently serves as the chief executive officer of BMW UK.
Muller-Otvos revitalized the Rolls-Royce brand and established it as a leader in the luxury industry by attracting a new generation of affluent buyers. Under his leadership, Rolls-Royce’s sales increased more than six-fold, from 1,000 cars sold in 2010 to over 6,000 last year, thanks to sleek models like the fast-back Wraith and rolls-royce-announces-retirement.html” title=”Torsten Muller-Otvos, CEO of Rolls-Royce, announces retirement”>innovative design concepts like Black Badge.
The average age of a Rolls-Royce buyer dropped from 56 to 43, and one in five buyers today is a celebrity.
“The brand is now contemporary and, I would say, cool again,” Muller-Otvos told CNBC. “This indicates to me that we have succeeded, not just…
2023-10-05 08:06:57
Article from www.cnbc.com
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