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BMW Group is to enhance the work of its foundations: capital to be increased to €100 million
Mon Mar 07 12:30:00 CET 2016 Press Release
The BMW Group’s foundations are to consolidate as the BMW Foundation Herbert Quandt +++ Foundation will develop Eberhard von Kuenheim Fund for impact investing +++ Stefan Quandt and Susanne Klatten: €30 million to support BMW Foundation Herbert Quandt +++
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- The BMW Group’s foundations are to consolidate as the BMW Foundation Herbert Quandt
- Foundation will develop Eberhard von Kuenheim Fund for impact investing
- Stefan Quandt and Susanne Klatten: €30 million to support BMW Foundation Herbert Quandt
Munich. To mark its centenary year, the BMW Group is enhancing its commitment to social responsibility. The capital of its foundation, BMW Foundation Herbert Quandt, will be increased by €50 million to a total of €100 million. In addition, annual donations will be made to support project work. In 2016 the donation will amount to another €5 million. Further financing will be provided by major shareholders Stefan Quandt and Susanne Klatten, who will support the foundation’s project work with an additional €30 million.
As financial support increases, foundation activities will be refocused, with the BMW Group’s two foundations – BMW Foundation Herbert Quandt and the Eberhard von Kuenheim Stiftung – consolidating to pool their strengths as a single organisation. This organisational and strategic realignment, and the additional financial support will enhance the foundation’s potential in terms of both scope and geographical reach.
Speaking today, Harald Krüger, Chairman of the Board of Management of BMW AG, said: “We see ourselves as an integral part of society. To emphasise that point, we are enhancing the activities of our foundation.”
BMW Foundation Herbert Quandt considers itself a driver of social innovation and a barometer of global change. Its mission is to encourage people to take responsibility in politics, business, science and society, irrespective of borders. The foundation’s Board of Directors is chaired by former ambassador Dr Michael Schaefer and includes Markus Hipp and Carl-August Graf von Kospoth. Former Chairman of the BMW AG Supervisory Board, Prof Joachim Milberg, is Chairman of the Board of Trustees.
By developing the Eberhard von Kuenheim Fund, the foundation will increase its activities in impact investing. It will also be able to reinterpret and sustain the fundamental idea behind the foundation Eberhard von Kuenheim Stiftung: to promote free enterprise.
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The BMW Group
With its three brands BMW, MINI and Rolls-Royce, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. As a global company, the BMW Group operates 30 production and assembly facilities in 14 countries and has a global sales network in more than 140 countries.
In 2015, the BMW Group sold approximately 2.247 million cars and nearly 137,000 motorcycles worldwide. The profit before tax for the financial year 2014 was approximately € 8.71 billion on revenues amounting to € 80.40 billion. As of 31 December 2014, the BMW Group had a workforce of 116,324 employees.
The success of the BMW Group has always been based 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.