Review Corporate Governance
Determine the structure of the board of directors for the organization. Examine how well the board of
directors is performing their duties which include: board leadership, strategy management, risk management, succession planning and sustainability. Identify the top management team of the company and assess how well they are overseeing the entire company.
3 Pages + Citation
Review Corporate Governance
Determine the structure of the board of directors for the organization. Examine how well the board of directors are performing their duties which include: board leadership, strategy management, risk management, succession planning and sustainability. Identify the top management team of the company and assess how well they are overseeing the entire company.?
About BMW Group -: Company Background.
BMW Group, a Germany Company is governed by German Corporate Governance Code&it ethically follows §161 German Stock Corporation Actto report once a year. Its Management board & Supervisory boards of companies equitably complies with German Corporate Governance Code("BMW intake module provides a challenge", 2006).
BMW Canada Inc.
BMW Canada Inc. which has a headquarter in Richmond Hill, Ontario & was establish in January 1986 to service & support BMW customer’s better, bringing uniform services to many local admirers due to stronger presence worldwide&structuring organization evenly.
Corporate governance in the BMW Group
BMW Group adheres to corporate governance in all areas of the enterprise. For the interest of shareholders, BMW Group follows an ambiguity reporting & it requires immense coordinationfor a smooth cooperation between the Board of Management and the Supervisory Board. The underlying principle of BMW Group is based on transparency, trust & responsibility.The German Corporate Governance Code is especially suited to achieving this objective has established standards for corporate governance which address the interests of shareholders, investors & international financial investors.Even for the specific circumstances the Board of Management and Supervisory Board are in favour of the religiously following rules & regulations contained in German Corporate Governance Code(Krause, 2006).
A coordinator responsible for all corporate governance issues reports directly and on a regular basis to the Board of Management and Supervisory Board.
Structure of the board of directors for the organization
The Supervisory BOD takes into account of tasks, responsibilities, roles & takes into account of all the domestic & international laws, requirements, considering independent & non-independent directors composition adheres to an age-limit stipulated by the Supervisory Board for its members and a regular limit of length of membership as well as diversity(Cusumano, 2013).
The Supervisory Board shall comprise at least 30 percent women and at least 30 percent men.
The Supervisory Board is of the opinion that it has an appropriate number of independent members within the meaning of the German Corporate Governance Code.
No more than two former members of the Board of Management may be members of the Supervisory Board.
Election to the Supervisory Board is carried out in the form of an individual vote.
Board of Directors Duties-:
The Board of Management consists of several persons with one chairperson.
Risk Management-: It allocates of tasks and responsibilities between the individual management & board members.
Strategy Management-:Regularly reviews the compensation system applicable to the Board of Management which is fixed by Supervisory Board based on performance criteria and taking into account any remuneration from group companies.
Succession Planning & Sustainability-: The Supervisory Board also allows an independent external compensation expert to review &consider the relationship between the compensation of the Board of Management and that of Senior Executives and the average salaries of BMW AG employees in Germany,
Termination of the services early or on time of agreement as Board of Management has a power to change of control. No payments will be made in the event of termination, A final Compensation Report will also explain the compensation system in an easily comprehensible manner("BMW Group and SGL Group to triple carbon fibre production at Moses Lake", 2014).
Top Management of the company
Chairman of the Board of Management
Joined BMW AG since its inception & has a vision to serve prestigious brand more ethically.
b) Hans Blesse
Joined BMW Canada since June 2014 as a President has a vision to serve customers premium products and premium services for individual mobility.
c) Joachim Lorenz
Joined BMW Canada since July 2016 adheres to strategy’s four pillars Growth, Shaping the Future, Profitability and Access to Technologies and Customers.
d) Ian Sideco September 1997
Director, Canadian Legal Affairs; Privacy Officer; Secretary and Board Member at BMW Group Canada
Joined BMW in Sept 1997 & is also serving in the supervisory board. Makes sure BMW Group enforces & abides by German Corporate Governance Code & takes into account all the domestic & international laws to be followed.
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Success with pleasure: MIR interview with Helmut Meysenburg, Head of Brand Strategies, Market Research and Competition at BMW Group. (2014). Gfk Marketing Intelligence Review, 6(1). http://dx.doi.org/10.2478/gfkmir-2014-0008