BMW 2003 Annual Report Download - page 5
Download and view the complete annual report
Please find page 5 of the 2003 BMW annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2 -
3 -
4 -
5 -
6 -
7 -
8 -
9 -
10 -
11 -
12 -
13 -
14 -
15 -
16 -
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
 |
 |
001 BMW Group in figures
004 Report of the Supervisory Board
008 Supervisory Board
011 Board of Management
012 Group Management Report
12 A Review of the Financial Year
29 Outlook
30 Financial Analysis
44 Risk Management
047 BMW Stock
050 Corporate Governance
054 Group Financial Statements
118 BMW AG Principal Subsidiaries
120 BMW Group10-year Comparison
122 BMW Group Locations
124 Glossary, Index
4
Throughout the financial year 2003, which again progressed
very successfully for the BMW Group, the Supervisory
Board monitored the Board of Management’s governance
of the business and stood by in an advisory capacity.
The Board of Management kept the Supervisory Board
informed on a regular, timely and comprehensive basis. The
Supervisory Board scrutinised with the Board of Manage-
ment all decisions of fundamental importance to the enter-
prise. In four joint meetings with the Board of Management
and on the basis of written and oral reports provided by
the Board of Management, the Supervisory Board has
thoroughly appraised the financial situation of the Company
performance and business policy as well as the risk situation
and risk management.
In addition to the meetings, the Chairman of the Super-
visory Board also maintained regular contact with the Chair-
man of the Board of Management, discussing important
corporate and strategic matters.
The Supervisory Board has, in addition during the finan-
cial year 2003, paid particular attention to the BMW Group’s
premium
brand strategy; the Supervisory Board encouraged
the Board
of Management to focus on the premium seg-
ment as the basis for continued profitable growth.
The consistent implementation of the BMW Group’s
product and market offensive was another important subject
of the discussions with the Board of Management. The
Supervisory Board fully supports the measures taken to
expand the enterprise and broaden its range of products,
which, for example, in 2003 led to the presentation of the
BMW X3 and the 6 Series Coupé. The new sales volume
record achieved in 2003 bears out this policy; it is further
evidence of the underlying strength of the Group.
Volker Doppelfeld
Chairman of the
Supervisory Board