BMW AG 
BMW GROUP.
KEY ASPECTS OF CORPORATE GOVERNANCE.
MARCH 2023.
BMW Group | Corporate Governance | March 2023 | - 1 - |
BMW AG - PARENT COMPANY OF BMW GROUP.
SHAREHOLDER STRUCTURE, BOARD OF MANAGEMENT AND SUPERVISORY BOARD.
Shareholder Structure
Number of Shares Outstanding*
Preference Shares 60,844,279
Total Shares 662,839,475
Ordinary Shares 601,995,196
Current Voting Rights Distribution*
Stefan Quandt
(direct and
indirect holdings)
Other Ordinary Shares 25.8%
50.2% 601,995,196
Susanne Klatten | |
(direct and | |
BlackRock, Inc. | indirect holdings) |
20.9% | |
3.1% | * as of December 2022 |
Board of Management
Chairman: | Oliver Zipse | ||
People and Real Estate | Ilka Horstmeier | ||
Production | Dr. Milan Nedeljković | ||
Customer, Brands, Sales | Pieter Nota | ||
Finance | Dr. Nicolas Peter | ||
Purchasing and | Dr. Joachim Post | ||
Supplier Network | |||
Development | Frank Weber | ||
Supervisory Board
Chairman: | Dr.-Ing. Norbert Reithofer |
Deputy Chairmen | Dr. Martin Kimmich ** |
Stefan Quandt | |
Stefan Schmid ** | |
Dr. Kurt Bock | |
Christiane Benner ** | |
Dr. Marc Bitzer | |
Bernhard Ebner ** | |
Rachel Empey | |
Dr.-Ing. Heinrich Hiesinger | |
Johann Horn ** | |
Dr. h.c. Susanne Klatten | |
Jens Köhler ** | |
Gerhard Kurz ** | |
André Mandl ** | |
Dr. Dominique Mohabeer ** | |
Anke Schäferkordt | |
Prof. Dr. Christoph Schmidt | |
Dr. Vishal Sikka | |
Sibylle Wankel ** | |
** Employee Representatives |
BMW Group | Corporate Governance | March 2023 | - 2 - |
BMW AG - 2-TIER GOVERNANCE SYSTEM.
Board of Management
- Responsible for managing and steering the company.
- Determines the strategic orientation of the company, agrees upon it with the Supervisory Board and ensures its implementation.
- Responsible for ensuring that all provisions of law and international regulations are complied with and an appropriate risk management and risk controlling system is in place.
- Represents company in dealings with third parties.
- Regular reporting to the Supervisory Board.
Composition of 7 members: | ||
(1) | Oliver Zipse | CEO |
(2) | Ilka Horstmeier | People and Real Estate |
(3) | Dr. Milan Nedeljković | Production |
(4) | Pieter Nota | Customer, Brands, Sales |
(5) | Dr. Nicolas Peter | Finance |
(6) | Dr. Joachim Post | Purchasing & Supplier Network |
(7) | Frank Weber | Development |
- Appointed for periods between 3 to 5 years.
TASKS
STRUCTURE
LENGTH OF TERM
Supervisory Board
- Appoints the Members of the Board of Management.
- Monitors and advises the Board of Management.
- Decides on remuneration system and level of the Board of Management.
- Provides approval for certain major business proceedings.
Composition in line with German Co-Determination Act:
Chairman: Dr.-Ing. Norbert Reithofer
- 10 shareholder representatives elected by AGM.
- 10 employee representatives elected by employees of BMW AG and other Group companies based in Germany.
- Regular length of appointment 5 years, for shareholder representatives voluntary limitation to 4 years.
- Next shareholder representatives elections at AGM in 2023.
BMW Group | Corporate Governance | March 2023 | - 3 - |
BMW AG - BOARD OF MANAGEMENT.
Oliver Zipse
Chairman
of the Board of Management
(since 05/2015 Member of the Board of Management; since 08/2019 Chairman)
Dr. Nicolas Peter
Finance
(since 01/2017 Member of the Board of Management)
Ilka Horstmeier
People and Real Estate
(since 11/2019 Member of the Board of Management)
Dr. Joachim Post
Purchasing and Supplier Network
(since 01/2022 Member of the Board of Management)
Dr. Milan Nedeljković
Production
(since 10/2019 Member of the Board of Management)
Frank Weber
Development
(since 07/2020 Member of the Board of Management)
Pieter Nota
Customer, Brands, Sales
(since 01/2018 Member of the Board of Management)
BMW Group | Corporate Governance | March 2023 | - 4 - |
BMW AG - SUPERVISORY BOARD.
Shareholder Representatives
Deputy Chairman of the | Deputy Chairman of the | ||||||||||||
Dr.-Ing. Norbert Reithofer | Chairman of the | Stefan Quandt | Dr. Kurt Bock | Dr. Marc Bitzer | Rachel Empey | ||||||||
since 2015 | Supervisory board | since 1997 | Supervisory board | since 2018 | Supervisory board | since 2021 | since 2021 | ||||||
elected until 2025 | elected until 2024 | elected until 2023 | elected until 2025 | elected until 2025 | |||||||||
Dr.-Ing. Heinrich Hiesinger | Dr. h.c. Susanne Klatten | Anke Schäferkordt | Prof. Dr. Christoph Schmidt | Dr. Vishal Sikka | |||||||||
since 2017 | since 1997 | since 2020 | since 2021 | since 2019 | |||||||||
elected until 2026 | elected until 2024 | elected until 2025 | elected until 2025 | elected until 2024 | |||||||||
Employee Representatives | |||||||||||||
Dr. Martin Kimmich | Deputy Chairman of the | Stefan Schmid | Deputy Chairman of the | Christiane Benner | Bernhard Ebner | Johann Horn | |||||||
since 2023 | Supervisory board | since 2007 | Supervisory board | since 2014 | since 2021 | since 2021 | |||||||
In office until 2024 | elected until 2024 | elected until 2024 | In office until 2024 | In office until 2024 | |||||||||
Jens Köhler | Gerhard Kurz | André Mandl | Dr. Dominique Mohabeer | Sibylle Wankel | |||||||||
since 2021 | since 2022 | since 2022 | since 2012 | since 2022 | |||||||||
in office until 2024 | in office until 2024 | in office until 2024 | elected until 2024 | elected until 2024 |
BMW Group | Corporate Governance | March 2023 | - 5 - |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
BMW - Bayerische Motoren Werke AG published this content on 16 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2023 10:24:44 UTC.
