Reebok 2011 Annual Report Download - page 44

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adidas Group
2011 Annual Report
TO OUR SHAREHOLDERS
40
2011
01.5 Supervisory Board Report
Supervisory Board Report
01.5
Dear Shareholders,
We look back on an extremely successful year 2011. Thanks to strong brands as well as innovative products
and marketing campaigns, the Group was able to grow in all regions and to considerably improve its results. The
sales and earnings guidance, which the Executive Board had raised several times during the year, was exceeded.
Supervision and advice in dialogue with the Executive Board
In the past year, we again regularly advised the Executive Board on the management of the company and
carefully and continuously supervised its activities. In particular, we examined the legality, expediency and
regularity of the Executive Board’s management.
The Executive Board informed us regularly, extensively and in a timely manner through oral and written reports,
both at Supervisory Board meetings and in the periods between our meetings. This information covered the
Group’s business policy as well as all relevant aspects of business planning, including finance, investment
and personnel planning. We were also kept up-to-date on the course of business, the operational position of
adidas AG and the Group (including the risk situation and risk management), the Group’s financial position and
profitability, as well as all major decisions and business transactions.
We were directly involved in all of the Group’s fundamental decisions. After in-depth consultation and
examination of the detailed information submitted to us by the Executive Board, we approved transactions
requiring Supervisory Board approval.
We held five Supervisory Board meetings in 2011, and passed one written circular resolution. In addition, we
held a meeting in February 2012, at which we discussed matters relating to the 2011 financial year. Apart from
two meetings which, in each case, one member was not able to attend due to an urgent business appointment
that could not be postponed, all Supervisory Board members attended all meetings in the year under review. The
external auditor, KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG), attended all meetings of the Supervisory
Board, inasfar as they did not deal with Executive Board matters, and all meetings of the Audit Committee. In
addition to the meetings, the Supervisory Board Chairman and the Audit Committee Chairman were informed
regularly in written and oral form on the current developments of the business situation and major business
transactions by the Chief Executive Officer and the Chief Financial Officer. The Executive Board regularly provided
IGOR LANDAU
Chairman of the Supervisory Board