The matriarch of Germany's Quandt family, Johanna Quandt passed away quietly at her home in Bad Homburg, Germany, on August 3 at the age of 89. She had been the head of the family ever since her husband, Herbert, passed away in 1982. At the time of her death, she and her two children, Susanne Klatten and Stefan Quandt, held almost 47% of BMW stock. Johanna Quandt had served on the BMW AG Supervisory Board; according to Forbes, she was the eighth-richest person in Germany.
Herbert Quandt was a significant stockholder in 1959 when, against his banker’s advice but at the pleading of the company’s employees and smaller stakeholders, he bought enough BMW shares to stave off a takeover attempt by Daimler. Quandt’s plan to resuscitate the company with the “New range” of sports sedans saved BMW from bankruptcy and started it on the path to premium car market segment leadership.
Johanna was born Johanna Bruhn in Berlin on June 21, 1926. Her parents were art historians. She was educated in Potsdam and Berlin, and apprenticed in medical technology, but the Second World War interrupted her training. She first found work as as a banker’s secretary in Cologne, but then moved to Bad Homburg where she started as a secretary in Herbert Quandt’s office in the 1950s. Eventually, she became his personal assistant and in 1960, his wife. When Herbert died in 1982, Johanna assumed his position in the company. She was Deputy Chair of the Supervisory Board of BMW AG from 1986 to 1997 and a member of the Supervisory Board from 1982 to 1997.
Her influence on the company went beyond corporate decisions concerning automobiles and personnel. She helped develop BMW’s concern for the community and the culture. “Johanna Quandt impressed those around her with her sincerity and her warm, straightforward manner. As member and Deputy Chair of the Supervisory Board, she was actively involved in the development of BMW AG over many years,” commented current Chairman of the Supervisory Board Norbert Reithofer.
Harald Krüger, Chairman of the BMW AG Board of Management, praised her legacy, saying, “Johanna Quandt worked on behalf of the BMW Group for more than 50 years, bringing enthusiasm and passion to the company. She gave the company support and security.”
As the leader of the Quandt family, Johanna was in a position to make momentous decisions that could have dramatically altered the world’s automotive landscape. For example, in 1987, shortly before his death, Henry Ford II visited Johanna in Germany to ask if the Ford Motor Company could buy BMW. It was reported that Johanna declined the offer, asking Henry, “What would I do with the money?”
Indeed.
Those who have benefitted from the direction of BMW since Johanna Quandt was part of its leadership—in terms of its products as well as its commitment to the arts, the environment, and the community—can appreciate this strong and quiet lady’s contribution.—Scott Blazey
[Photo courtesy of BMW AG.]
