BMW 2008 Annual Report Download - page 126

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127 Group Financial Statements
in euro million 2008 2007
Short-term employment benefits 12.5 18.0
Post-employment benefits 0.8 0.7
Compensation 13.3 18.7
42
43
44
Declaration with respect to the Corporate
Governance Code
The Board of Management and the Supervisory Board
of Bayerische Motoren Werke Aktiengesellschaft have
issued the Declaration of Compliance pursuant to 
of the German Stock Corporation Act. The Declaration
of Compliance is reproduced on page  and is also
available to shareholders on the BMW Group website at
www.bmwgroup.com/ir.
Shareholdings of members of the Board of
Management and Supervisory Board
The members of the Supervisory Board of BMW AG hold
in total . of the issued common and preferred
stock shares, of which . relates to Stefan Quandt,
Bad Homburg v. d. H. and . to Susanne Klatten,
Munich. The shareholdings of the members of the Board
of Management of BMW AG is, in total, less than
of
the issued stock shares.
Compensation of members of the Board of Management and Supervisory Board
The compensation of current members of the Board of Management and Supervisory Board amounted to euro . mil-
lion (: euro . million) and comprised the following:
The remuneration of the members of the Board of Manage-
ment for the financial year  amounted to euro . mil-
lion (: euro . million). This comprised fixed compo-
nents of euro . million (: euro . million) and variable
components of euro . million (: euro . million).
In addition, an amount of euro . million (: euro . mil-
lion) has been granted to current members of the Board
of Management after the end of their employment relation-
ship. This relates to the expense for allocations to pension
provisions.
The compensation of the members of the Supervisory
Board for the financial year  amounted to euro . mil-
lion (: euro . million), comprising only fixed compo-
nents (: euro . million for fixed components and euro
. million for variable components).
The compensation system for members of the Board of
Management and the Supervisory Board does not include
any stock options, value appreciation rights comparable to
stock options or any other stock-based compensation
components.
Further details about the remuneration of current mem-
bers of the Board of Management and the Supervisory
Board can be found in the Compensation Report on
pages  – . The Compensation Report is part of the
Group Management Report.
The remuneration of former members of the Board of
Management and their surviving dependants amounted
to euro . million (: euro . million).
Pension obligations to former members of the Board of
Management and their surviving dependants are fully cov-
ered
by pension provisions amounting to euro . million
(: euro . million), computed in accordance with IAS .
Members of the Board of Management and the Super visory
Board holding a credit card issued by BMW Bank GmbH,
Munich, during the financial year  had a credit line of
up to euro , (: euro ,). The amounts arising
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 disclosed on pages  – .