BMW Group celebrates successful new beginning 50 years ago
Restructuring plan accepted on 30 November 1960
Herbert Quandt secured the companys future
Munich. The BMW Group is celebrating its independence and the companys continued success since its restructuring plan was accepted on 30 November, 1960 with a special ceremony at the Theresienhhe in Munich on 30 November 2010. Herbert Quandts business instinct and his ability to make courageous decisions at that time set a new course for our company and secured BMWs ability to control its own future, said Chairman of the Supervisory Board of BMW AG, Prof. Dr. Ing. Joachim Milberg, before the ceremony in Munich.
After rejecting Daimler-Benzs takeover bid for BMW in 1959 and adopting the rescue plan in November 1960, BMW went on to become an almost unprecedented success story. Since 2004, the BMW Group has been the worlds leading supplier of premium automobiles. Its workforce has grown from 6,900 in 1959 to over 96,000 employees today. At the same time, the number of vehicles sold has climbed from 42,000 at that time to a predicted total of more than 1.4 million automobiles (BMW, MINI and Rolls-Royce) this year.
In its unique way, the BMW Group represents long-term business decisions and bold, future-oriented action. We benefit from having a shareholder structure with a family of entrepreneurs as our major shareholder. To this day, it has been a stabilising factor, added Milberg.
I consider it a privilege that we are able to make decisions from a long-term perspective, in the interests of all our stakeholders and in partnership with our workforce noted Chairman of the Board of Management of BMW AG, Dr. Ing. Nobert Reithofer.
The course for future success was set in 2007 with Strategy Number ONE. This strategy was introduced well before the financial and economic crisis and has been systematically implemented over the past three years. It laid the foundation for the upturn we are currently experiencing, according to the Chairman of the Supervisory Board of BMW AG. New models enjoying success today, such as the BMW X1 and the MINI Countryman, were also decided upon in 2007.
The slogan Sheer driving pleasure originates from the year 1964 and holds true for all BMW brand models. Today, BMW is a brand that combines dynamic performance and efficiency like no other. And that will apply in the future, also, regardless of the type of drive train under the bonnet, commented Reithofer. It also has to do with the people who work at BMW. Besides their high level of skill and dedication, they also have a strong identification with the company, as Milberg pointed out.
The ceremony at the Theresienhhe is being held at the very same place where shareholders rejected the Daimler-Benz bid to acquire BMW on 9 December 1959. Speakers at tomorrows event include Supervisory Board Chairman, Prof. Dr. Milberg, and Chairman of the Board of Management of BMW AG, Dr. Norbert Reithofer, as well as the Chairman of the General Works Council, Manfred Schoch. Representing the majority shareholder, Stefan Quandt will also discuss the historic relationship between the Quandt family and BMW.
The BMW Group
The BMW Group is one of the most successful manufacturers of automobiles and motorcycles in the world with its BMW, MINI and Rolls-Royce brands. As a global company, the BMW Group operates 24 production facilities in 13 countries and has a global sales network in more than 140 countries.
The BMW Group achieved a global sales volume of approximately 1.29 million automobiles and over 87,000 motorcycles for the 2009 financial year. Revenues totalled euro 50.68 billion. At 31 December 2009, the company employed a global workforce of approximately 96,000 associates.
The success of the BMW Group has always been built on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy. As a result of its efforts, the BMW Group has been ranked industry leader in the Dow Jones Sustainability Indexes for the last six years.
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Corporate and Governmental Affairs
Marc Hassinger, Communications Business and Finances, Sustainability
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Bill McAndrews, Corporate and Governmental Affairs, Corporate Communications
Telephone: (+ 49 89) 382-22332, Fax: (+ 49 89) 382-29756
Maximilian Schberl, Corporate and Governmental Affairs
Telephone: (+49 89) 382-37349, Fax: (+49 89) 382-37446
Media website: www.press.bmwgroup.com
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