Restructuring plan accepted on 30 November 1960
Herbert Quandt secured the company’s future
Munich. The BMW Group is celebrating its independence and the company’s continued success since its restructuring plan was accepted on 30 November, 1960 with a special ceremony at the Theresienhöhe in Munich on 30 November 2010. “Herbert Quandt’s business instinct and his ability to make courageous decisions at that time set a new course for our company and secured BMW’s 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-Benz’s takeover bid for BMW in 1959 and adopting the rescue plan in November 1960, BMW went on …