BMW Group Financial Services North America announced that Ole Jensen will succeed Birgit Boehm as president and CEO of BMW Group Financial Services in the United States and head of BMW Group Financial Services, Region Americas, according to a June 6 press release.
BMW Group Financial Services North America is the manufacturer’s regional financial services subsidiary, providing retail and commercial financing, leasing, banking products and other financial services to BMW customers. Jensen most recently served as the company’s chief financial officer, a position he has held since October 2021.
In his new role, Jensen will lead business strategy and operations in the U.S., Canada, Mexico and Brazil. He will be the company’s third president and CEO in just over four years.
“[Jensen’s] strong global perspective — paired with the local insight and relationships he’s built with the Americas team these past four years — will serve him well as the new president and CEO of BMW Group Financial Services in North America,” Gerald Holzmann, global head of BMW Group Financial Services, said in a statement.
Jensen has been part of the leadership team of BMW’s financial services branch for nearly 20 years, beginning his tenure on the risk management team at BMW Group Financial Services in Germany in 2005. Over the past two decades, Jensen has served the company in several capacities, including chief financial officer roles in South Korea and Italy.
Boehm will remain connected to BMW Group, as the company announced her new role as president and CEO of BMW Brilliance Automotive, BMW Group’s joint venture in China. Boehm joined BMW Group in Germany in 2018 and served as senior vice president of finance and group treasurer. She moved to the U.S. in 2022 to lead BMW Group Financial Services in the U.S. and the Americas region.
Tobias Essig, the general manager of finance and administration at BMW Group Spain and Portugal, will succeed Jensen as chief financial officer. Essig has been with BMW Group since 1997 and has supported the company in chief financial officer roles around the world, including in the United Kingdom, Thailand and South Africa.
The leadership changes are effective Aug. 1, per the release.
