BMW 2007 Annual Report Download - page 131

129
in euro million 2007 2006
Short-term employment benefits 18.0 17.2
Benefits due at end of employment relationship 0.7 0.6
18.7 17.8
remuneration of current members of the Board of
Management and the Supervisory Board amounts to
euro 18.7 million (2006: euro 17.8 million). The re-
muneration consists of the following:
German Stock Corporation Act, which is included in
the BMW Group Annual Report 2007 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 Aktiengesellschaft
have issued a declaration, required by § 161 of the
Shareholdings of members of the Board of
Management and Supervisory Board
The members of the Supervisory Board of BMW AG
hold in total 27.70 % of the issued common and
preferred stock shares, of which 16.12 % relates to
[41]
[42]
[43]
Further details about the remuneration of cur-
rent members of the Board of Management and of
the Supervisory Board can be found in the Compen-
sation Report on pages 142 to 145. The Compensa-
tion Report is part of the Group Management Report.
The remuneration of former Board members
and their dependants amounted to euro 4.3 million
(2006: euro 3.8 million).
Pension obligations to former members of the
Board of Management and their dependants are fully
covered by pension provisions amounting to euro
38.3 million (2006: euro 38.8 million), computed in
accordance with IAS 19.
Members of the Board of Management or the
Supervisory Board holding a BMW Bank GmbH , Munich,
credit card have a credit line of up to euro 25,565.
At the balance sheet date the balances resulting from
credit card usage were all within the agreed limits.
The names of the members of the Supervisory
Board and of the Board of Management are dis-
closed on pages 137 to 140.
Subject to the approval of the proposed dividend at
the Annual General Meeting, the salaries of the mem-
bers of the Board of Management for the financial
year 2007 amounted to euro 15.2 million (2006:
euro 14.5 million). This comprises fixed components
of euro 2.7 million (2006: euro 2.3 million) and vari-
able components of euro 12.5 million (2006: euro
12.2 million).
In addition, an amount of euro 0.7 million (2006:
euro 0.6 million) has been granted to current mem-
bers of the Board of Management after the end of
their employment relationship. This relates to the ex-
pense for allocations to pension provisions.
Subject to the approval of the proposed dividend
at the Annual General Meeting, the compensation of
the members of the Supervisory Board for the finan-
cial year 2007 amounts to euro 2.8 million (2006:
euro 2.7 million). This comprises fixed components
of euro 0.1 million (2006: euro 0.1 million) and variable
components of euro 2.7 million (2006: euro 2.6 mil-
lion).