Efficient committee work

During the reporting year, five committees existed for a more efficient structuring of the work of the Supervisory Board.

  • The General Committee continually advises the Management Board. It prepares the Supervisory Board meetings, if this is necessary due to the magnitude and importance of the meeting topics, and negotiates Management Board contracts. Another task is the deliberation and resolution on special, urgent matters.
  • The Acquisition Committee prepares the decisions of the Supervisory Board on corporate and/or portfolio acquisitions.
  • The Audit Committee is concerned in particular with issues such as accounting, the efficacy of the internal control system of the risk management, the internal revision system and compliance, required auditor independence, awarding audit contracts to auditors, determining core audit areas, and the fee agreement. The members of the Audit Committee are experts in the areas accounting and auditing, and their majority meets all stipulations on independence in accordance with the EU recommendation concerning the tasks of Supervisory Board members (OJ. EC 2005 No. L 52 as of 02/25/2005, p. 1) and the recommendation of the German Corporate Governance Code.
  • The “Capital Markets and Communications” Committee advises on the development of the share price and the shareholder structure of the company, other important capital market issues, and the company's communications policy.
  • The Nominations Committee prepares the nomination of candidates by the Supervisory Board for the Annual General Meeting.

My Annual Report