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      12-02-2010, 11:04 AM   #1
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BMW's Quandt family renews pledge

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During the recent event in Munich to mark the 50th year anniversary of the Quandt family rescue of BMW, their ascent to becoming the dominant shareholder of BMW, Stefan Quandt renewed a pledge to stay with BMW.

"Lead, don't follow - that's the entrepreneurial calling of BMW." and harks back to the actions of Herbert Quandt, the man who took action to fend off a takeover attempt by Daimler AG. Now his family owns 46 percent of BMW with his children Stefan Quandt and Susanne Klatten are on the supervisory board.

The Quandts role with BMW is considered central to the stability and independance of the company. From time to time, rumors amass that the Quandts would sell their share in the company, which would certainly herald a takeover by larger rivals, but the Quandts have been quick to dispell these rumors each time.

Source: Autonews Europe