Reebok 2009 Annual Report Download - page 36

32 TO OUR SHAREHOLDERS Supervisory Board Report
Examination of the adidas AG annual Examination of the adidas AG annual
financial statements and consolidated financial statements and consolidated
financial statements financial statements
KPMG audited the consolidated financial
statements and the Group Management
Report for 2009 prepared by the Execu-
tive Board in accordance with § 315a
German Commercial Code (Handels-
gesetzbuch – HGB) in compliance with
IFRS and issued an unqualified opinion
thereon. The auditor also approved with-
out qualification the 2009 annual financial
statements and the Management Report
of adidas AG prepared in accordance with
HGB requirements.
The financial statements, the pro-
posal put forward by the Executive Board
regarding the appropriation of retained
earnings and the auditor’s reports were
submitted to all Supervisory Board
members in a timely manner. They were
examined in depth by the Audit Commit-
tee at its meeting on February 26, 2010,
and at the Supervisory Board meeting
on March 2, 2010, and were discussed in
detail in the presence of the Executive
Board and the auditor. At both meet-
ings, the auditor reported the material
results of the financial statements audit
with focus on the 2009 priority topics as
agreed with the Audit Committee. The
examination of the internal control and
risk management system relating to the
financial accounting process showed that
the system is capable of performing its
functions. The auditor was available for
questions and the provision of additional
information to the Audit Committee and
the other Supervisory Board members.
Having examined the adidas AG annual
financial statements and the consoli-
dated financial statements as well as
the Management Reports, we came
to the conclusion that there were no
objections to be raised. Following the
recommendation of the Audit Committee,
at our financial statements meeting we
therefore approved the audit results and
adopted the financial statements pre-
pared by the Executive Board. The annual
financial statements of adidas AG were
thus adopted. We also discussed with the
Executive Board the proposal concerning
the appropriation of retained earnings
with regard to the dividend policy and, in
light of the position of the company and
the financial and investment planning, we
approved the proposal.
Changes on the Supervisory BoardChanges on the Supervisory Board
At the end of the Annual General Meeting
on May 7, 2009, the regular five-year
term in office of all Supervisory Board
members expired. The Annual General
Meeting elected as shareholder repre-
sentatives, on an individual basis,
Dr. Stefan Jentzsch, Herbert Kauffmann,
Igor Landau, Alexander Popov, Willi
Schwerdtle and Christian Tourres as
members of the Supervisory Board.
Dr. Hans Friderichs and Dr. iur. Manfred
Gentz retired from the Supervisory Board
effective May 7, 2009.
In spring 2009, the employees had
already elected Sabine Bauer and Heidi
Thaler-Veh as well as Dieter Hauenstein,
Dr. Wolfgang Jäger, Roland Nosko and
Hans Ruprecht as their representatives
on the Supervisory Board. Fritz Kammerer
and Klaus Weiß retired from the Super-
visory Board effective May 7, 2009.
At the constituent meeting of the
newly elected Supervisory Board on
May 7, 2009, Igor Landau was elected
as Chairman of the Supervisory Board
and Sabine Bauer and Willi Schwerdtle
were elected as Deputy Chairwoman
and Deputy Chairman, respectively.
Expression of thanksExpression of thanks
We wish to expressly thank the retired
Supervisory Board Chairman, Dr. Hans
Friderichs, for his many years of excep-
tional service to adidas AG. He accom-
panied the transition of the Group from a
family-run company to one of the world’s
leading, listed sporting goods compa-
nies with prudent advice and entrepre-
neurial vision. We also thank all other
Super visory Board members who left
the Supervisory Board at the end of the
Annual General Meeting for the contribu-
tions they have made to the company.
Additionally, the Supervisory Board
would like to express its appreciation of
the tremendous personal dedication, the
performance and the ongoing commit-
ment of the Executive Board, the man-
agements of Group companies, the Works
Council and all adidas Group employees.
For the Supervisory Board
Igor Landau
Chairman
March 2010