Audi 2007 Annual Report Download - page 142

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Statutory requirements and provisions under the Articles of Incorporation and Bylaws on
the appointment and dismissal of members of the Board of Management and on the
amendment of the Articles of Incorporation and Bylaws
The appointment and dismissal of members of the Board of Management are stipulated in
Sections 84 and 85 of the German Stock Corporation Act. Members of the Board of Man-
agement are accordingly appointed by the Supervisory Board for a period of no more than
five years. Reappointment or an extension of the term of office, in each case for no more
than five years, is permitted. Section 6 of the Articles of Incorporation and Bylaws further
stipulates that the number of members of the Board of Management is to be determined by
the Supervisory Board and that the Board of Management must comprise at least two per-
sons.
Key agreements by the parent company that are conditional on a change of control
following a takeover bid
AUDI AG has not reached any agreements that are conditional on a change of control follow-
ing a takeover bid. Nor has any compensation been agreed with members of the Board of
Management or employees in the event of a takeover bid.
Strategy
The management of the Audi Group has set itself the target of establishing the Audi core
brand as the most successful premium brand in the world by 2015. A comprehensive, de-
tailed portfolio of measures designed to achieve this goal was again drawn up in fiscal 2007.
All activities stemming from this annual planning process reflect a quartet of strategic aims:
Volume growth
to 1.5 million vehicles
Customer enthusiasm and
image leader in emotion
and quality
Substantial rise
in profitability
Most attractive
employer
Audi – the most successful premium brand
Volume growth to 1.5 million vehicles
Audi plans to sell 1.5 million premium vehicles by the year 2015. In order to achieve this
ambitious goal, the Company sustained the swift pace of its long-term model initiative in
2007. Vehicles such as the Audi A5 Coupé, which made its market debut in the early part of
the year, the Audi R8 thoroughbred mid-engine sports car and the new Audi A4 Sedan
launched in the fall thrilled customers and trade journalists from all over the world. In 2008,
further new models such as the Audi A3 Cabriolet, Audi TTS Coupé and Roadster and the
Audi Q5 will extend the Company’s youthful, sporty product line. The market launch of the
new Audi A4 Avant will round out the glittering array of new products in 2008.
At the same time, Audi is steadily increasing its engagement in car markets around the
world. The Audi sales organization in the important U.S. market was restructured and prepa-
rations were made for the nationwide launch of ultra-efficient diesel technology – a domain
in which Audi has enjoyed outstanding expertise for many years. In key growth markets
such as China and Russia, the Company extended its exclusive dealer and service network,
and laid the foundations for future success in India by kicking off local CKD assembly of the
Audi A6.
Corporate steering