The former Barcelona boss has come in for criticism this week following the Bundesliga champion's 5-0 aggregate thashing by Real Madrid in the Champions League semifinals.
However, Bayern CEO Rummenigge believes the reaction has been blown out of proportion and insists the Spaniard will be fully backed in his vision for the club.
"Not one piece of paper can fit between Pep Guardiola and the entirety of Bayern," he said at Friday's general meeting, which saw Karl Hopfner confirmed as the club's new president. "He is a very great, very successful coach, with a clear philosophy and vision, and also a wonderful man. We can all count ourselves fortunate he opted for Bayern.
"There has been a bucketload of malice in the last few days. We have been outstanding with this system and these players this season.
"A defeat in the Champions League does not make it all bad. There is no shame, and certainly no drama."
Bayern, who sealed the league title in record time this season, can still claim another trophy this term when they face Borussia Dortmund in the final of the DFB Pokal.