Porsche 2006 Annual Report Download - page 28

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26
Corporate Governance Report
Cooperation between Executive Board and Supervisory Board
During the fiscal year the Supervisory Board was kept informed in detail of the
company’s position, business progress and business policy by means of written
and verbal reports from the Executive Board, and in joint meetings, and on the
basis of this information has monitored the activities of company management.
The Supervisory Board also examined fundamental issues of corporate planning,
in particular financial, investment and human resources planning.
Remuneration Report
Porsche does not comply with the recommendation of the Corporate Governance
Code to publish the total compensation of every member of the Executive Board
in a compensation report. Non-compliance is explained in the following com-
pliance declaration.
Risk Management
The details of the risk management system from Porsche are given in detail on
pages 21–25 of the management report. The Supervisory Board has examined
these explanations and has embraced them. To avoid repetition, it has been
decided not to reproduce them here.
Communication and Transparency
The Porsche Group publishes a financial calendar in its annual report, its interim
report and its homepage at www.Porsche.de listing all the dates of importance
for the stockholders.
Declaration of Conformity with the Corporate Governance Code
The Background
On February 26, 2002 the Federal German Government Commission on the
Corporate Governance Code introduced a standard of good and responsible
corporate governance for executive boards and supervisory boards of companies
listed on the stock exchange. The executive and supervisory boards of listed
companies are obliged to make an annual declaration of conformity as to whether
they have complied and continue to comply with the Code, or which of
the recommendations contained in the Code have not been or are not applied.