BMW 2002 Annual Report Download - page 5

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001 BMW Group in figures
004 Report of the Supervisory Board
008 Supervisory Board
011 Board of Management
012 Group Management Report
031 BMW Stock
034 Corporate Governance
042 Group Financial Statements
106 BMW AG Financial Statements
112 BMW Group Annual Comparison
114 BMW Group Locations
116 Glossary
120 Index
4
The Supervisory Board regularly monitored the Board of Management during
the financial year 2002. The Board of Management kept the Supervisory Board
in
formed on a regular, timely and comprehensive basis. The Supervisory Board
scrutinised with the Board of Management all decisions of fundamental
impor-
tance to the enterprise. In four joint meetings with the Board of Management and
o
n the basis of written and oral reports provided by the Board of Management,
the Supervisory Board has thoroughly appraised the financial situation of the
Company performance and business policy as well as the risk situation and risk
management. In addition to the meetings, the Chairman of the Supervisory Board
also maintained regular contact with the Chairman of the Board of Management,
discussing important corporate and strategic matters as well as risk management
issues.
The Supervisory Board has paid particular attention to the development and
implementation of the Board of Managements premium brand strategy. World-
wide demand for the cars of the BMW Group in the financial year 2002 outpaced
demand in the market as a whole as well as in the entire premium segments.This
success, achieved against the background of a subdued world economy and a
modest development on the automobile markets, demonstrates the great impor-
tance of the premium brand strategy for the continuing successful development
of the
BMW
Group.The Supervisory Board has encouraged the Board of Manage-
Volker Doppelfeld
Chairman of the Supervisory Board