BMW 2014 Annual Report Download - page 195

195 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 under
report
was resolved by shareholders at the Annual Gen-
eral 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
in accordance with IFRS in accordance with HGB pension obligations pension obligations
for the financial year 20141for the financial year 20141(defined benefit plans), (defined benefit plans),
in accordance in accordance
with IFRS2with HGB2
Norbert Reithofer 281,278 717,656 9,600,845 7,346,081
(313,038) (233,100) (7,234,887) (6,036,606)
Milagros Caiña Carreiro-Andree 366,848 368,968 990,507 989,277
(369,827) (372,277) (555,874) (555,190)
Klaus Draeger 147,483 409,663 5,359,750 4,485,792
(162,426) (407,482) (4,086,628) (3,694,976)
Friedrich Eichiner 177,335 409,663 5,599,794 4,633,694
(174,279) (407,482) (4,683,637) (3,827,095)
Klaus Fröhlich3 3,643 2,747 2,138,633 1,286,247
(–) (–) (–) (–)
Harald Krüger 220,609 359,256 3,927,671 3,204,346
(143,734) (358,325) (2,648,384) (2,516,021)
Ian Robertson 356,067 414,827 3,029,448 2,395,377
(395,507) (274,357) (2,025,994) (1,771,848)
Peter Schwarzenbauer 369,234 371,398 688,271 687,570
(262,500) (262,500) (289,681) (289,308)
Total41,922,497 3,054,178 31,334,919 25,028,384
(2,033,085) (2,723,228) (24,819,665) (21,753,227)
Herbert Diess5 178,809 383,900 4,256,732 3,858,064
(211,774) (407,705) (3,294,607) (3,062,183)
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 9 December 2014.
4 The previous year’s figures include amounts relating to Dr Diess.
5 Member of the Board of Management until 9 December 2014.
Pension benefits of the individual members of the Board of Management