Faithful cooperation with the Management Board

The Supervisory Board assumed its responsibilities under the law and under the articles of incorporation with diligence also in the financial year 2009. It regularly advised the Management Board in the management of the company and supervised its work. The Supervisory Board was directly involved in all decisions of fundamental importance to the company at an early stage. The Management Board reported to us both in writing as well as verbally regularly and comprehensively and in a timely fashion on corporate planning and strategy, the position of the company, the course of the business, the risk position, and risk management. The Management Board coordinated strategic decisions with the Supervisory Board. Deviations of the course of business from plans and targets were comprehensively explained and discussed. The Supervisory Board was thus informed continuously and promptly of all business transactions essential to the company throughout the reporting year.

Apart from meetings of the Supervisory Board and its committees, the Chairman of the Supervisory Board and other members of the Supervisory Board were in regular contact with the Management Board to stay apprised of essential business transactions and to support the Management Board in an advisory capacity.

My Annual Report