BMW's China CEO Christoph Stark retires

Successful tenure saw 20-fold increase in sales

BMW Group announced last week that Christoph Stark, the 58-year-old chief of its China operations, will retire in the first quarter next year after helping boost the company's annual sales in the country 20-fold during a tenure that started in 2004.

Karsten Engel, who currently leads the automaker's business in Germany, will succeed Stark in the position of president and CEO of BMW Group Region China, the company said.