BMW Group Corporate Governance
BMW Group Corporate Governance
BMW Group Corporate Governance
Submitted by:
Ameya D.
INTRODUCTION
Basic information about the BMW Group
BMW AG's shares are listed on, inter alia, the regulated market of
the Frankfurt Stock Exchange, Segment Prime Standard. The shares
are bearer shares, each with a par value of 1 euro.
capital.
Each person satisfying the participation requirements set out
in German law and the Companys Articles of Incorporation
relating to notice of participation at the Annual General
Meeting and proof of share ownership, is entitled to
participate in the Annual General Meeting, to take the floor on
matters on the agenda and to submit relevant questions and
proposals.
The Chairman of the Supervisory Board chairs the meeting
and provides for the expedient running of the Annual General
Meeting. In this, the Chairman should be guided by the fact
that an ordinary general meeting should be completed after 4
to 6 hours at the latest.
agenda be extended.
The extension of the agenda can also be demanded by
shareholders who, together, hold shares with a par value of
500,000 or more provided that the statutory formalities are
complied with.
The Board of Management will post the reports and
documents required by law, including the Annual Report, on
the website of the BMW Group (www.bmwgroup.com) together
General Meeting.
The speech of the Chairman of the Board of Management will
be broadcast over the Internet.
enterprise.
The Board of Management runs the business and bears
responsible for managing the group. It coordinates the group's
strategic approach with the Supervisory Board and, at regular
intervals, discusses the current state of strategy
enterprise.
In appropriate cases, the Board of Management will convene
an Extraordinary General Meeting at which shareholders can
with.
The provision of loans by BMW AG or group subsidiaries to
members of the Board of Management and the Supervisory
Board or their relatives requires the approval of the
Supervisory Board.
The BMW AG's Board of Management and Supervisory Board
report each year on the group's corporate governance in the
Annual Report (Corporate Governance Report). Said Report
forms an integral part of the declaration on the Company's
corporate governance. This includes an explanation of any
deviations from the recommendations of the German
Corporate Governance Code. The Company will ensure that
implementation.
The Board of Management ensures that all provisions of law
and internal regulations are abided by and works to achieve
Company.
In the event that the Supervisory Board uses an external
compensation expert to assess the appropriateness of the
compensation, care shall be taken that said expert is
comprehensible manner.
The same applies with regard to promises of payments or
benefits in the event of early or regular termination of the
services as a member of the Board of Management, which
have been granted or amended during the financial year.
non-competition clause.
Members of the Board of Management and employees may
not, in connection with their work, demand nor accept from
third parties payments or other advantages for themselves or
for any other person, nor grant third parties unlawful
advantages.
The enterprises best interests bind members of the Board of
Management. No member of the Board of Management may
pursue personal interests in his decisions or take advantage of
Committee.
The Chairman of the Supervisory Board maintains regular
contact with the Board of Management, in particular, with the
Chairman of the Board of Management and consults on the
strategy, business development and risk management of the
BMW Group. The Chairman of the Supervisory Board is
informed by the Chairman of the Board of Management
without delay of important events, which are essential for an
assessment of the situation and development of the BMW
Group as well as for the management of the BMW Group. The
Chairman of the Supervisory Board then informs the
Supervisory Board and, if required, convenes an extraordinary
meeting of the Supervisory Board.
to diversity.
The ability of the Supervisory Board to supervise and advise
the Board of Management independently is also aided by the
fact that the Supervisory Board is required, based on its own
component.
If a member of the Supervisory Board takes part in less than
half of the meetings of the Supervisory Board in a particular
financial year, this will be disclosed in the Annual Report.
enterprise.
Each member of the Supervisory Board will inform the
Supervisory Board of any conflicts of interest which may
result from a consultant or directorship function with
5. Transparency
financial year.
Details of relationships with shareholders considered to be
related parties pursuant to the applicable accounting
regulations are disclosed in the group financial statements.
6.2 Audit
Societal Commitment
over time.
It can be improved and / or stabilized with effective
countermeasures.
Influencing options
programmes
Principle of providing self-help
Support at the companys sites for the community through