Corporate Governance at Bayerische Motoren Werk


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Case Details:

Case Code : CGOX014
Case Length : 11 Pages
Period : 2004
Pub Date : 2004
Teaching Note :Not Available
Organization : Bayerische Motoren Werke (BMW)
Industry : Auto and Ancillaries
Countries : Europe

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts

The Board of Management and Supervisory Board

Like other German companies, BMW had two boards, the Board of Management (BOM) and the Supervisory Board (SB). The BOM managed the group's operations, coordinated the group's strategic approach with the SB and, at regular intervals, discussed the current state of strategy implementation with the SB...

Board of Management

Tasks and Responsibilities
The BOM was responsible for independently managing the enterprise, in the enterprise's best interests. The BOM developed the enterprise's strategy, coordinated it with the SB and ensured its implementation...

Composition and Compensation
On the basis of various performance criteria, the SB determined the compensation of the members of the BOM...

Conflicts of Interest
During their period of employment, members of the BOM were subject to comprehensive obligations...

The Supervisory Board

Tasks and Responsibilities
The SB advised regularly and supervised the BOM. The SB was also involved in all major strategic decisions. The SB appointed the members of the BOM. Together with the BOM, it facilitated long-term succession planning...

Formation of Committees
The SB set up committees with sufficient expertise based on the specific requirements of the Group...

Composition and Compensation
Care was taken to ensure that the SB consisted, at all times, of members who had the required knowledge, abilities, expertise and experience to complete their tasks properly and who were sufficiently independent...

Conflicts of Interest
Each member of the SB was expected to act in the company's interests...

Transparency
The BOM was expected to disclose without delay any new facts which had arisen within BMW's field of activity and which were not known publicly, if such facts could substantially influence BMW's stock price...

Exhibits

Exhibit I: BMW Group: Figures
Exhibit II: Board of Directors
Exhibit III: Supervisory Board


 

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