Milberg was Professor and Dean of the Faculty of Mechanical Engineering at the Technische Universität München. He was Member of the Board of Management for Production of the Bayerischen Motorenwerke AG and became CEO when Bernd Pischetsrieder had to leave because of the Rover problems. Joachim Milberg stopped the Rover venture and reestablished the BMW success story. Since 2004 he is Chairman of the Supervisory Board of BMW AG.
Joachim Milberg was the founding President of acatech - the German Academy of Science and Engineering.