DHL 2014 Annual Report Download - page 112

e annual and consolidated nancial statements and the management reports for  were dis-
cussed in detail and approved at the nancial statements meeting on  March . e meeting was
also attended by the auditors. Aer a thorough review, we endorsed the Board of Management’s proposal
for the appropriation of the net retained prot for nancial year . We also approved a share capital
increase in order to nance a share buy-back to settle share-based payments due to executives in .
e nancial statements meeting approved the Supervisory Board’s proposed resolutions for the Annual
General Meeting . e meeting also discussed variable remuneration components, with a particular
emphasis on the performance targets achieved. In addition, we examined the ndings of the eciency
review of the work of the Supervisory Board. e Supervisory Board noted and accepted Bruce Edwards’
resignation from the Board of Management. Mr Edwards’ successor, John Gilbert, was appointed to the
Board of Management for a three-year term.
In an extraordinary meeting of the Supervisory Board on  March , the Board of Manage-
ment gave a detailed presentation setting out the principles of “Strategy : Focus.Connect.Grow.”.
Another extraordinary meeting was held immediately aer the Deutsche Post   on  May 
to determine the composition of the Supervisory Board committees. Hero Brahms stepped down from
the Supervisory Board at the end of the  as he had reached the upper age limit for Supervisory Board
members. e members of the Supervisory Board elected Stefan Schulte as the new chair of the Finance
and Audit Committee. Details of the current members of the Supervisory Board committees can be
found on page .
At the Supervisory Board meeting on  June , we discussed the Group’s  strategy. We also con-
sidered the impending mandate renewals and new appointments relevant to the Board of Management.
At the start of July, the Supervisory Board accepted Angela Titzrath’s resignation from the Board of
Management using the written procedure. e Supervisory Board approved the renewal of Jürgen Gerdes’
mandate and contract for a further ve years at an extraordinary meeting on  July .
e Supervisory Board held one ordinary meeting and one closed meeting on  and  Septem-
ber . e main focus of the Supervisory Board meeting was the question of whether Board of Manage-
ment remuneration was appropriate. e Supervisory Board decided to transfer responsibility for   
activities from the Finance and Audit Committee to the Strategy Committee. During the closed meeting,
presentations by external speakers describing the customers’ and investors’ point of view, as well as con-
tributions from other speakers on social sustainability in logistics companies and management culture,
formed the basis for lively debate in the plenary meeting. e discussions focused on implementing
Strategy  and integrating Strategy  into Group and divisional activities. As part of the on-going
training and support recommended for Supervisory Board members in the German Corporate Govern-
ance Code , the meeting was followed by a Directors’ Day, with presentations by selected speakers.
At the extraordinary Supervisory Board meeting on  October , we appointed Melanie Kreis as
member of the Board of Management and Labour Director.
On  December, at the last meeting of the Supervisory Board in , we approved the  busi-
ness plan aer extensive discussions and set the Board of Management’s performance targets for .
In addition, a share capital increase was resolved upon for the purpose of nancing a share buy-back to
settle share-based payments due to executives in . We also reiterated our unqualied Declaration of
Conformity with the German Corporate Governance Code.
Hard work by the committees
e Executive Committee met ve times during the year under review. e main agenda items were
matters regarding the Board of Management and preparations for the various Supervisory Board meetings.
e Personnel Committee met four times. e topics discussed included women in executive
positions, personnel development measures, the Group-wide Certied programme which promotes
employee commitment and changes in corporate culture, and the annual Employee Opinion Survey.
Deutsche Post  Group —  Annual Report
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