BMW 2006 Annual Report Download - page 5
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04 Report of the Supervisory Board
Joachim Milberg
Chairman of the Supervisory Board
Ladies and Gentlemen,
Over the course of the financial year 2006, the most successful year ever recorded
in the history of the BMW Group, the Supervisory Board closely monitored the
company’s management with the aid of extensive written and oral reports pro-
vided by the Board of Management and continuously supported it in an advisory
capacity through regular discussions.
In a total of five meetings, the Supervisory Board considered the business and
financial position of the BMW Group, its risk analysis and risk management
systems, selected topics of strategic interest as well as the composition of the
Board of Management. The Board of Management also kept the Supervisory
Board informed of current business developments and matters of particular
significance, either at scheduled meetings or at other times when the need
arose.
Decisions concerning changes in the Board of Management stood at the fore-
front of the July 2006 Supervisory Board meeting.
Dr. Norbert Reithofer, at that stage the Board of Management member respon-
sible for Production, was named to succeed Dr. Helmut Panke as Chairman of
the Board of Management with effect from 1 September 2006.
In his capacity as Chairman of the Board of Management from 2002 to 2006,
Dr. Panke was responsible for leading the BMW Group to unprecedented
suc-
cess and the positive image of the BMW Group was indelibly shaped by his
personality. On 31 August 2006, Dr. Panke left the Board of Management after
a total of 24 years in the service of the company, including six years of board
membership and a further four years as Chairman of the Board of Management.
He handed over the helm at a time where the BMW Group is able to present
itself in a position of both inward and outward strength. The Supervisory Board
would like to take this opportunity to express its great respect for, and apprecia-
tion of, this achievement.
Also at the Supervisory Board meeting in July 2006, Frank-Peter Arndt, at that
stage Head of the Dingolfing Plant, was appointed Board of Management mem-
ber with responsibility for Production with effect from 1 September 2006.
Prof. Dr. Burkhard Göschel, who had been responsible for Development and
Purchasing since 2000, left the Board of Management with effect from 31 Octo-
ber 2006. The Supervisory Board would like to thank Prof. Dr. Göschel for his
outstanding accomplishments in the service of the BMW Group (since 1978)
and as a member of the Board of Management (since 2000).