BMW 2003 Annual Report Download - page 8
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The independent auditors attended the meetings of the
Audit Committee and of the Supervisory Board held on
11 March 2004, at which the financial statements were
examined, and reported on the main results of their audit.
The Supervisory Board agrees with the results of the audit.
The Supervisory Board approves the Company and
Group Financial Statements of Bayerische Motoren Werke
Aktiengesellschaft for the financial year 2003 prepared by
the Board of Management. The Company financial state-
ments are therefore adopted.
The Board of Management’s proposal to use the un-
appropriated profit available for distribution was reviewed
by the Supervisory Board. The Supervisory Board agrees
with the proposal submitted by the Board of Management.
After the final result of the review by the Supervisory Board,
no objections were made.
The Supervisory Board expressed its particular thanks to
the Board
of Management and to the employees of the
BMW Group for another year of exceptional performance in
2003.
Following registration of the appointment with the Dis-
trict Court of Munich, Franz Oberländer joined the Super-
visory Board as the successor to Gerhard Gutsmiedl with
effect from 1 April 2003.
Munich, 11 March 2004
The Supervisory Board
Volker Doppelfeld
Chairman
7