BMW 2006 Annual Report Download - page 110

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Susanne Klatten is a shareholder and member
of the Supervisory Board of BMW AG, and also a
shareholder and Deputy Chairman of the Supervisory
Board of Altana AG, Bad Homburg v.d.H. which pur-
chased vehicles from the BMW Group during the
financial year 2006. These service and sale con-
tracts are not material for the BMW Group and are
made, without exception, on the basis of arm’s
length principles.
With the exception of these related party trans-
actions, companies of the BMW Group did not enter
into any significant transactions with members of
the Board of Management or Supervisory Board of
BMW AG or with companies in whose representative
bodies those persons are represented. The same
applies to close members of the families of those
persons.
in euro million 2006 2005
Short-term employment benefits 17.2 14.7
Benefits due at end of employment relationship 0.6 0.5
17.8 15.2
remuneration of current members of the Board of
Management and the Supervisory Board amounts
to euro 17.8 million (2005: euro 15.2 million). The
compensation consists of the following:
the German Stock Corporation Act, which is included
in the BMW Group Annual Report 2006 and which
is available to shareholders on the BMW Group web-
site under the address www.bmwgroup.com/ir.
Stefan Quandt, Bad Homburg v.d.H. and 11.58%
to Susanne Klatten, Munich. The shareholding of
the members of the Board of Management of
BMW AG is, in total, less than 1% of the issued
stock shares.
Compensation of members of the Board of
Management and Supervisory Board
Subject to the approval of the proposed dividend at
the Annual General Meeting of Shareholders, the
Declaration with respect to the Corporate
Governance Code
The Board of Management and the Supervisory
Board of Bayerische Motoren Werke Aktiengesell-
schaft have issued a declaration, required by §161 of
Shareholdings of members of the Board of
Management and Supervisory Board
The members of the Supervisory Board of BMW AG
hold in total 27.7% of the issued common and
preferred stock shares, of which 16.12% relates to
[41]
[42]
[43]
their employment relationship. This relates to the
expense for allocations to pension provisions.
Subject to the approval of the proposed divi-
dend at the Annual General Meeting, the compen-
sation of the members of the Supervisory Board for
the financial year 2006 amounts to euro 2.7 million
(2005: euro 2.5 million), comprising fixed compo-
nents of euro 0.1 million (2005: euro 0.1 million) and
variable components of euro 2.6 million (2005: euro
2.4 million).
Subject to the approval of the proposed divi-
dend at the Annual General Meeting, the salaries of
the members of the Board of Management for the
financial year 2006 amounted to euro 14.5 million
(2005: euro 12.2 million).This comprises fixed com-
ponents of euro 2.3 million (2005: euro 2.0 million)
and variable components of euro 12.2 million (2005:
euro 10.2 million).
In addition, an amount of euro 0.6 million (2005:
euro 0.5 million) has been granted to current mem-
bers of the Board of Management after the end of