Reebok 2010 Annual Report Download - page 33

To Our Shareholders Corporate Governance Report including the Declaration on Corporate Governance 29
Environmental responsibility
and social commitment
Sustainable actions are an important
requirement for management that is
successful in the long term and particu-
larly embraces social and environmental
responsibility towards present and future
generations.
With our “Green Company” initiative
as part of our Group-wide environmental
strategy, we combine all approaches
regarding climate protection and
resource conservation at our locations
under one roof in order to realise the
long-term goal of becoming a carbon-
neutral company on a global level.
We promote the positive develop-
ment of the regions in which our Group
operates by cooperating with charity
organisations in order to improve the
lives of local people by means of sports.
Moreover, we are involved in education
projects as well as science and human-
itarian initiatives in various projects in
Africa, Latin America and Asia.
With the objective of producing and
selling affordable shoes for the poorest
of the poor, we have realised a successful
pilot project in Bangladesh within the
framework of our cooperation with Nobel
Peace Laureate Professor Muhammad
Yunus. The project is based on the
adidas Group’s core competencies and
is positioned within the Reebok brand.
Currently, a feasibility study is being
conducted to examine to what extent
the project can be realised as a working
“Social Business” in accordance with the
scientific principles of Professor Yunus.
Transparency and protection Transparency and protection
of shareholders’ interestsof shareholders’ interests
It is our goal to inform all institutional
investors, private shareholders, financial
analysts, employees and the interested
public about the company’s situation, at
the same time and to an equal extent,
by regular open and up-to-date commu-
nication. We publish all essential infor-
mation such as press releases, ad hoc
announcements and voting rights noti-
fications as well as all financial reports
online. In addition, we also provide all
documents and information on our
Annual General Meeting on our website.
At our next Annual General Meeting,
taking place on May 12, 2011 in Fuerth
(Bavaria), we will again provide our
shareholders with the best possible
service. All shareholders can follow the
Annual General Meeting live and in full
length online.
Through our Investor Relations activ-
ities, we are in close contact with our
shareholders see Our Share, p. 34.
Appropriate risk managementAppropriate risk management
The adidas Group has a company-wide
risk management system which was
comprehensively analysed in 2010. Within
the scope of this system, strategic and
operational risks, compliance-related
risks as well as financial risks are iden-
tified, assessed and reported throughout
the company and cross-divisionally by key
decision-makers. This approach aims to
ensure that significant risks are reported
to management in good time and that
appropriate measures for minimising the
risks are developed and initiated see
Risk and Opportunity Report, p. 158.
Share ownership of the Executive Board Share ownership of the Executive Board
and Supervisory Boardand Supervisory Board
At the end of the 2010 financial year,
the total number of shares held by the
members of the Executive Board of
adidas AG amounted to less than 1% of
the shares issued by the company.
At the same time, the members of
the Supervisory Board owned 1.96% of
the shares issued by the company.
A detailed overview of Directors’
Dealings in 2010 is published on our
website under www.adidas-Group.com/
directors_dealings.
Accounting and annual auditAccounting and annual audit
adidas AG prepares the annual financial
statements in accordance with the
provisions of the German Commercial
Code (Handelsgesetzbuch – HGB) and the
AktG. The annual consolidated financial
statements are prepared in accordance
with the principles of the International
Financial Reporting Standards (IFRS), as
adopted by the European Union (EU).
KPMG AG Wirtschaftsprüfungs-
gesellschaft was appointed as auditor
for the 2010 annual financial state-
ments and annual consolidated financial
statements by the Annual General
Meeting. The Supervisory Board had
previously convinced itself of the auditor’s
independence.