Reebok 2010 Annual Report Download - page 28

24 To Our Shareholders Supervisory Board Report
Examination of the adidas AG annual financial statements and consolidated financial statements
KPMG audited the consolidated financial statements and the Group Management Report for 2010 prepared by the Executive Board in
accordance with § 315a German Commercial Code (Handelsgesetzbuch – HGB) in compliance with IFRS and issued an unqualified
opinion thereon. The auditor also approved without qualification the 2010 annual financial statements and the Management
Report of adidas AG prepared in accordance with HGB requirements. The financial statements, the proposal put forward by the
Executive Board regarding the appropriation of retained earnings and the auditor’s reports were distributed to all Supervisory
Board members by the Executive Board in a timely manner. We examined them in depth in the presence of the auditor at the Audit
Committee meeting held on February 25, 2011 and at the Supervisory Board’s March 1, 2011 financial statements meeting
during which the Executive Board explained the financial statements in detail. At both meetings, the auditor reported on the
material results of the audit with focus on the priority topics for the year under review as agreed with the Audit Committee. The
auditor did not report any significant weak points with respect to the system for early risk detection and the internal control
system. The auditor was available for questions and the provision of additional information to the Audit Committee and the other
Supervisory Board members. Based on our own examinations, we are convinced that there are no objections to be raised. Following
the recommendation of the Audit Committee, at our financial statements meeting we therefore approved the audit results and the
financial statements prepared by the Executive Board. The annual financial statements of adidas AG were thus approved. We also
discussed with the Executive Board the proposal concerning the appropriation of retained earnings with regard to the dividend policy
and adopted it in light of the position of the company and the expectations of shareholders and the capital market.
In memoriam
We will always honour the memory of our long-standing Supervisory Board Chairman, Mr. Henri Filho, who passed away on
December 25, 2010 at the age of 79. As a member of the Supervisory Board from April 1993 and Chairman of the Supervisory Board
from April 1994 until November 2007, he provided the adidas AG Executive Board with outstanding supervisory and advisory support
to the benefit of the adidas Group. During his tenure, the adidas Group became one of the global leaders in the sporting goods
industry.
Expression of thanks
The Supervisory Board wishes to express its appreciation of the tremendous personal dedication, the performance and the ongoing
commitment of the Executive Board, the management of the Group companies, the Works Council and all adidas Group employees,
which was decisive for achieving the Group’s excellent results.
For the Supervisory Board
Igor Landau
Chairman of the Supervisory Board
March 2011