Audi 2007 Annual Report Download - page 7

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ensure that Audi will continue rigorously along its path to be-
coming the world’s most successful premium manufacturer.
The Supervisory Board’s Presiding Committee met prior to
every joint meeting to consult on important issues.
The Audit Committee held its scheduled meetings during the
past fiscal year under the chairmanship of Hans Dieter Pötsch.
On these occasions, the Audit Committee reviewed the 2006
Annual and Consolidated Financial Statements, the Compa-
ny’s risk management and the current situation as of the end
of 2007. In particular, the committee analyzed the growth
prospects of the Audi brand, including the attendant complex-
ity and achievable rates of return. It also examined possible
risks and repercussions resulting from the debates on reducing
fuel consumption and emissions.
Following thorough discussions, the Supervisory Board
approved the financial, personnel and investment plans
on December 5, 2007.
The Annual and Consolidated Financial Statements, as well
as the Management Reports for AUDI AG and the Audi Group,
were audited by PricewaterhouseCoopers Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft, which issued its unqualified
certification. The audits by the Audit Committee and the
Supervisory Board yielded no objections, and the Annual and
Consolidated Financial Statements were duly approved by the
Supervisory Board at the meeting of February 22, 2008. The
Annual Financial Statement has thus been established.
On December 5, 2007, following consultations before its meet-
ing, the Supervisory Board endorsed the remuneration model
for the members of the Board of Management of AUDI AG,
and agreed on the content of the annual declaration of
conformity pursuant to Section 161 of the German Stock
Corporation Law (Aktiengesetz, AktG).
The following changes in the composition of the Supervisory
Board and of the Board of Management became effective
during the past fiscal year:
Effective February 12, 2007, Joachim Dilger, representative
of the management of AUDI AG for the Supervisory Board,
stepped down. Upon request of the Board of Management of
AUDI AG, the District Court of Ingolstadt resolved on Febru-
ary 22, 2007, to appoint Hubert Waltl as a supplementary
member of the Supervisory Board for the remainder of
Mr. Dilger’s tenure. The Supervisory Board would like to
thank Mr. Dilger for his four and a half years of activity.
At the end of the Annual General Meeting on May 9, 2007,
Richard Polzmacher left the Supervisory Board of his own
volition. The Supervisory Board would like to thank
Mr. Polzmacher for his successful work. On May 30, 2007,
the District Court of Ingolstadt appointed Wolfgang Müller
as supplementary member of the Supervisory Board for the
remainder of Mr. Polzmacher’s tenure.
Effective February 23, 2007, Erich Schmitt, “SEAT, S.A.,
Chairman of the Board of Management,” left the Board of
Management of AUDI AG as a consequence of the Volkswagen
Group’s dissolving its brand groups. The Supervisory Board
thanks Mr. Schmitt for more than 14 years of successful and
multifaceted work as part of the Audi Board of Management.
As the President of SEAT, S.A., Mr. Schmitt will remain with
the Volkswagen Group.
Effective September 1, 2007, the Supervisory Board ap-
pointed Axel Strotbek as new member of the Board of Man-
agement of AUDI AG. Mr. Strotbek took over responsibility
for the “Finance and Organization” division. The responsi-
bility of Rupert Stadler for this business division ended at
the same time.
The Supervisory Board attaches particular importance to the
Company management’s assessment of the future develop-
ment of the Audi Group.
Due to the anticipated cooling off of U.S. economic growth, a
slowdown in the development of the world economy is expect-
ed in 2008 which is likely to affect the dynamics of the global
automobile economy. In drawing up its strategic plans, the
Board of Management has taken into account the changing
macroeconomic conditions, the increasing competitive inten-
sity, and the ongoing debate on climate protection. In doing so,
it has primarily intensified its efforts toward further reduction
of fuel consumption and emissions. In keeping with this goal,
Audi will be introducing TDI engines to the market in 2008
which will feature an “ultra low emission system.” This can re-
duce nitrogen oxide emissions by up to 90 percent. There are
also plans to expand the model range of the Audi Q7 to include
a full-hybrid model.
As part of the strategic goal of making Audi the most success-
ful premium brand by the year 2015, the company plans to sell
over one million vehicles in 2008. In this context, manage-
ment and workforce are continuing to work intensively on
the expansion of the range of models. In addition to the estab-
lished markets of Western Europe, the U.S. and Japan, the
Board of Management is focusing its work on important grow-
ing markets such as China, India and Russia.
The Supervisory Board remains committed to supporting the
realization of the ambitious goals the Audi Group has set for
itself. Accordingly, the Supervisory Board will continue to
assist the Board of Management actively and constructively,
above and beyond the statutory minimum scope that is legally
required of its activity.
Ingolstadt, February 22, 2008
Photo: Claudia Kempf
Prof. Dr. rer. nat. Martin Winterkorn
Chairman of the Supervisory Board
“Audi will continue rigorously along
its path to becoming the world’s most
successful premium manufacturer.”
Prof. Dr. rer. nat. Martin Winterkorn