BMW 2003 Annual Report Download - page 6
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5
The Supervisory Board closely followed the progress of
start-up activities for the new Rolls-Royce Phantom. With
the Rolls-Royce brand, the BMW Group now has a portfolio
of three strong premium brands. The Group’s range of
products thus extends to all relevant premium segments of
the international automobile markets.
The Supervisory Board carefully reviewed the sales
strategy of the BMW Group and the structural and com-
petitive challenges it faces from new legislation relating to
the sale of cars in Europe. Following a transitional period,
the new rules have been in force since 1 October 2003.
The Board of Management also kept the Supervisory
Board regularly informed on the status and progress of
on-going cooperation projects. The Supervisory Board de-
voted particular attention to the BMW Group’s activities in
the Asian region, especially the start-up of the joint venture
in Shenyang, China.
The Supervisory Board reassured itself that construction of
the
BMW
plant inLeipzig continued to progress in line with plan.
The Board of Management regularly reported to the
Supervisory Board about the continued positive develop-
ment of the Group’s motorcycle business.
The encouraging and continuing progress made by the
Financial Services
segment was also discussed in detail by the
Supervisory Board.
One of the main topics of the joint consultations of the
Board of Management and the Supervisory Board was
the long-term business development of the Group and its
business segments.
This was also one of the main areas of discussion covered
at the meetings of the Presiding Board of the Supervisory
Board, which convened six times in this capacity.