BMW 2014 Annual Report Download - page 12

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Chairman of the Supervisory Board – without an interim phase – will strengthen the role of the Supervisory
Board and is thus in the best interests of the BMW Group.
In order to ensure that this generational change can also take place in good time at the head of the Super-
visory Board,
in agreement with its other members, I have resigned my mandate as Supervisory Board
member with
effect from the end of the Annual General Meeting 2015.
In due consideration of these developments, the Supervisory Board has reached agreement with
Dr Reithofer concerning the early termination of his Board of Management mandate and his service con-
tract with effect from the end of the Annual General Meeting 2015.
Harald Krüger has been appointed Chairman of the Board of Management with effect from the end of the
Annual General Meeting 2015, to coincide with Dr Reithofer’s planned exit from the Board of Management.
Harald Krüger brings a great deal of experience to this position from his previous board responsibilities. Since
2013, he has been in charge of Production, before which, from 2008 to 2012, he was first responsible for Human
Resources and then for the MINI, BMW Motorrad, Rolls-Royce and BMW Group Aftersales division.
Other changes in the composition and organisational structure of the Board of Management Klaus
Fröhlich, previously Head of Small and Mid-size Series BMW Group, was appointed as member of the Board
of Management with effect from 9 December 2014, with responsibility for Development. His predecessor,
Dr Herbert Diess, resigned from the Board of Management on 9 December 2014.
With effect from the end of the Annual General Meeting 2015, the Supervisory Board appointed
Oliver Zipse,
most recently Head of Corporate Planning and Product Strategy, as a member of the Board of
Management. He will take over responsibility for Production from Harald Krüger.
The Supervisory Board also renewed the appointment of three Board of Management members in 2014.
Other personnel changes in the Supervisory Board In accordance with the regulations of the Co-
Deter-
mination Act, the ten employee representatives were re-elected with effect from the end of the Annual
General Meeting on 15 May 2014.
After 10 years of valuable and highly appreciated work in the Supervisory Board, Bertin Eichler did not
stand for re-election. In his place, Christiane Benner (Executive Board member of IG Metall) was newly
elected to the Supervisory Board as union representative. As a result, the Supervisory Board now has five
female members (25%). Ulrich Kranz, Head of the BMW i product line, was newly elected to the
Super visory
Board to succeed Dr Markus Schramm as executive staff representative. The Supervisory Board
thanked
the members leaving office for their constructive work and trusting cooperation within the Super visory
Board. The composition of the Presiding Board and the committees remained unchanged in 2014, with all
previous members confirmed in their respective functions. The Corporate Governance Report includes an
overview of the composition of the Supervisory Board and its committees (see chapter Statement on Corpo-
rate Governance).
Wolfgang Mayrhuber has resigned his mandate as member of the Supervisory Board with effect from
the end of the Annual General Meeting 2015. We also wish to extend our thanks to him for more than
ten years of valuable and highly appreciated service in the Supervisory Board, always working in the best
interest of the Group.
Examination of financial statements and the profit distribution proposal KPMG AG Wirtschafts-
prüfungsgesellschaft conducted a review of the abridged Interim Group Financial Statements and Interim
Group Management Report for the six-month period ended 30 June 2014. The results of the review were
presented to the Audit Committee by KPMG representatives. No issues were identified that might indicate