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BMW Group is to enhance the work of its foundations
07.03.2016: - capital to be increased to €100 million
The BMW Group’s foundations are to consolidate as the BMW Foundation Herbert Quandt
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- capital to be increased to €100 million
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
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.
- Norbert Glies, photos BMW
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