BMW 2002 Annual Report Download - page 98

97
which, through its subsidiaries in the Microlog and
Thiel Group, performed logistics services for the
BMW Group during the financial year 2002. In addi-
tion,
companies of the DELTON Group purchased
vehicles from the BMW Group.These service and
sale contracts are not material for the BMW Group
and are
made, without exception, on arms length
principles.
Susanne Klatten is a shareholder and Deputy
Chairman of the Supervisory Board of Altana AG,
Bad Homburg v. d. Höhe, and also a shareholder
and member of the Supervisory Board of BMW AG.
During the financial year 2002, Altana AG , Bad
Homburg v.d.Höhe purchased vehicles from the
BMW Group. These sale contracts are not material
for the BMW Group and are made, without excep-
tion, on arms length principles.
With the exception of these related party trans-
actions, companies of the BMW Group did not enter
into any contracts with members of the Board of
Management or Supervisory Board of BMW AG or
with other key management personnel in the BMW
Group or with companies in whose representative
bodies those persons are represented.The same
applies to close members of the families of those
persons.
covered by pension provisions of euro 30.0 million
(2001: euro 24.9 million), computed in accordance
with IAS 19.
Subject to the approval of the proposed dividend
at the Annual General Meeting of Shareholders, the
remuneration of the Supervisory Board for the finan-
cial years 2002 and 2001 amounts to euro 2.0 mil-
lion in each year. This comprises fixed components
of euro 0.1 million (2001: euro 0.1 million) and
variable components of euro 1.9 million (2001:
euro
1.9 million).
The members of the Supervisory Board and of the
Board of Management are disclosed on pages 8 to 11.
Susanne Klatten, Bad Homburg v.d. Höhe (11.59%).
The shareholding of the members of the Board of
Management is, in total, less than 1% of the issued
stock shares.
cluded in the BMW Group Annual Report and
which is permanently available to shareholders on
the BMW Group website under the address
www.bmwgroup.com/ir.
[41]To t al remuneration
of the Board of
Management and the
Supervisory Board
[40]Shareholding of the
Board of Management
and the Supervisory
Board
[39]Declaration relating
to the Corporate
Governance Code
Subject to the approval of the proposed dividend at
the Annual General Meeting of Shareholders, the
remuneration of current members of the Board of
Management for the financial years 2002 and 2001
amounts to euro 11.9 million and euro 13.4 million
respectively. This comprises fixed components of
euro 2.2 million (2001: euro 2.6 million) and variable
components of euro 9.7million (2001: euro 10.8 euro).
The remuneration of former Board members
and their dependants amounts to euro 5.2 million
(2001: euro 2.9 million).
Pension obligations to former members of the
Board of Management and their dependants are
The members of the Supervisory Board hold a total
of 27.73% of the issued common and preferred
stock shares. This holding is split between Stefan
Quandt, Bad Homburg v.d. Höhe (16.14%), and
The Board of Management and the Supervisory
Board of Bayerische Motoren Werke Aktiengesell-
schaft have issued a declaration, required by §161
of the German Stock Corporation Act, which is in-