Statement on Corporate Governance 2020
STATEMENT ON CORPORATE GOVERNANCE 11 March 2021 Good corporate governance – acting in accordance During the past financial year, some members of the with the principles of responsible management aimed Supervisory Board were offered the opportunity of par- at increasing enterprise value on a sustainable basis – ticipating in meetings via telephone and video confer- is an essential requirement for the BMW Group, em- ences, as it was not always possible for all members to bracing all areas of the business. Transparent reporting attend in person due to the pandemic and the associ- and corporate communication, corporate governance ated travel restrictions. However, in line with the sug- that is aligned with the interests of all stakeholders, co- gestion in D.8 DCGK, this form of participation is not operation based on trust between the Board of Man- considered to be the rule. A summary of attendance at agement, Supervisory Board and employees, and meetings by individual member is included in the Re- compliance with applicable law are essential corner- port of the Supervisory Board. stones of the corporate culture within the BMW Group. With effect from the financial year 2021, the Supervi- In this statement, the Board of Management and Su- sory Board has changed the system of compensation pervisory Board report on corporate governance at for the members of the Board of Management. All rec- BMW AG in accordance with §§ 289f, 315d of the Ger- ommendations and suggestions contained in the man Commercial Code (HGB) and Principle 22 of the DCGK have been complied with. In particular, in ac- German Corporate Governance Code as amended on cordance with G.10 DCGK, a share-based compensa- 16 December 2019 (DCGK).
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