BMW 2004 Annual Report Download - page 5
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4
Report of the Supervisory Board
Joachim Milberg, Chairman of the Supervisory Board
During the financial year 2004, which has been
the BMW Group’s most successful year to date,
the Supervisory Board monitored the Board of
Management’s governance of business and stood
by in an advisory capacity. The Board of Manage-
ment kept the Supervisory Board informed on a
regular, timely and comprehensive basis.The Super-
visory Board discussed decisions of fundamental
importance to the enterprise with the Board of
Management.
In five joint meetings, and on the basis of
written and oral reports provided by the Board of
Management, the Supervisory Board thoroughly
reviewed the BMW Group’s financial situation, per-
formance, business policies, risk situation and risk
management system and discussed the results
with the Board of Management.
Throughout the year, the Chairman of the
Supervisory Board was consulted by the Chairman
of the Board of Management on important corpo-
rate and strategic matters.
The Supervisory Board kept a close and sup-
portive watch on the on-going product and market
initiative throughout 2004. The Supervisory Board
welcomes the expansion of the product range
into those premium segments of the international
automobile markets which are relevant for the
BMW Group. With the introduction of new models
such as the BMW X3 Sports Activity Vehicle, the
BMW 1 Series, the BMW 6 Series Convertible and