BMW 2013 Annual Report Download - page 191

191 STATEMENT ON CORPORATE GOVERNANCE
2. Supervisory Board compensation
Responsibilities, regulation pursuant to Articles
of Incorporation
The compensation of the Supervisory Board is specified
by resolution of the shareholders at the Annual General
Meeting or in the Articles of Incorporation. The
com-
pensation regulation valid for the financial year 2013
was resolved by shareholders at the Annual General
Meeting on 14 May 2013 and is set out in Article 15 of
BMW AG’s Articles of Incorporation, which can be
viewed and / or downloaded at www.bmwgroup.com\ir
under the menu items “Corporate Facts” and “Corporate
Governance”.
Compensation principles, compensation components
The Supervisory Board of BMW AG receives a fixed
compensation component as well as a corporate per-
formance
-related compensation component which is
oriented toward sustainable growth, based on a multi-
year
assessment. The corporate performance-related
component is based on average earnings per share of
common stock for the remuneration year and the two
preceding financial years.
These two interacting components are intended to
ensure that the compensation of Supervisory Board
members is commensurate overall in relation to the
in € Service cost Service cost Present value of Present value of
IFRS1HGB1pension obligations pension obligations
(defined benefit plans), (defined benefit plans),
in accordance in accordance
with IFRS2with HGB2
Norbert Reithofer 313,038 233,100 7,234,887 6,036,606
(217,462) (204,520) (7,770,956) (5,263,483)
Milagros Caiña Carreiro-Andree 369,827 372,277 555,847 555,190
(150,000) (168,361) (169,119) (168,608)
Herbert Diess 211,774 407,705 3,294,607 3,062,183
(145,829) (260,723) (3,459,608) (2,407,993)
Klaus Draeger 162,426 407,482 4,086,628 3,694,976
(114,531) (227,386) (4,357,273) (3,078,164)
Friedrich Eichiner 174,279 407,482 4,683,637 3,827,095
(127,028) (183,671) (4,443,313) (3,203,857)
Harald Krüger 143,734 358,325 2,648,384 2,516,021
(88,004) (346,582) (2,911,534) (1,934,608)
Ian Robertson 395,507 274,357 2,025,994 1,771,848
(281,416) (283,003) (1,872,190) (1,274,502)
Peter Schwarzenbauer3 262,500 262,500 289,681 289,308
(–) (–) (–) (–)
Total42,033,085 2,723,228 24,819,665 21,753,227
(1,233,039) (1,947,143) (29,374,854) (20,589,637)
Frank-Peter Arndt5 149,808 307,482 4,153,128 3,783,361
(108,769) (272,897) (4,390,861) (3,258,422)
1 Service cost differs due to the different valuation bases used to measure pension obligations for HGB purposes (expected settlement amount) and for IFRS purposes
(present value of the defined benefit obligation).
2 Based on legal right to receive the benefits already promised to them, Board of Management members appointed for the first time prior to 1 January 2010 were given
the option of choosing between the old and new models at the time the Company changed from a defined benefit to a defined contribution system.
3 Member of the Board of Management since 1 April 2013. The pension expense for Peter Schwarzenbauer in the financial year 2013 corresponds to the defined contribution
amount.
4 The previous year’s figures include amounts relating to Frank-Peter Arndt.
5 Member of the Board of Management until 31 March 2013.
Pension benefits of the individual members of the Board of Management