Reebok 2011 Annual Report Download - page 53

adidas Group
2011 Annual Report
TO OUR SHAREHOLDERS
49
2011
01.6 Corporate Governance Report including the Declaration on Corporate Governance
In line with the Group-wide sustainability programme, the adidas
Group developed the Environmental Strategy 2015. The objective of the
strategy is to make processes more efficient at every stage of the value
chain. This ranges from areas such as product design, development
and sourcing, logistics and IT systems, to improving the efficiency of
company-owned locations. Optimising the value chain will make it
possible for the adidas Group to offer more sustainable products and
improve the company’s environmental performance in the future.
With our “Green Company” initiative, we combine all approaches
regarding climate protection and resource conservation at our
locations under one umbrella programme in order to realise the
long-term goal of becoming a carbon-neutral company on a global
level. A key element of the “Green Company” initiative is the intro-
duction of uniform environmental management systems at adidas
Group locations, in compliance with ISO 14001 : WWW.ADIDAS-GROUP.COM/
SUSTAINABILITY
.
We strive to support the positive development of the regions in which
our Group operates by cooperating with charity organisations in order
to improve the quality of life for local people by means of sports.
Moreover, we are involved in education projects as well as science and
humanitarian initiatives in various projects around the world.
With the objective of making affordable shoes available for the poorest
of the poor, we have started working on a “Social Business” 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, it is being considered whether the project
can be realised in India as well, as a working “Social Business” based
on the principles of Professor Yunus.
Transparency and protection of shareholders’ interests
It is our goal to inform all institutional investors, private share-
holders, 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 communication. We publish all essential
information, such as press releases, ad hoc announcements and voting
rights notifications as well as all financial reports online. In addition,
we also provide all documents and information relating to our Annual
General Meeting on our website. At our next Annual General Meeting,
taking place on May 10, 2012 in Fuerth (Bavaria), Germany, 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. Our Investor Relations department provides a full range
of services to the financial community and our shareholders SEE OUR
SHARE, P. 54
.
Appropriate risk management
The adidas Group has a company-wide risk management system
which was comprehensively reviewed in 2010 and further developed
in 2011. Within the scope of this system, strategic and operational
risks, compliance-related risks as well as financial risks are identified
and assessed throughout the company and cross-divisionally by
key decision-makers, and are reported to the Executive Board.
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. 145
.
Share ownership of the Executive Board and
Supervisory Board
At the end of 2011, the total number of shares held by members of the
Executive Board of adidas AG amounted to less than 1% of the shares
issued by the company.
At the same time, members of the Supervisory Board owned 1.92% of
the shares issued by the company.
A detailed overview of Directors’ Dealings in 2011 is published on our
website at : WWW.ADIDAS-GROUP.COM/DIRECTORS_DEALINGS .
Accounting and annual audit
adidas AG prepares the annual financial statements in accordance with
the provisions of the German Commercial Code (Handels gesetzbuch
– 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) SEE AUDITOR’S REPORT, P. 173 .
KPMG AG Wirtschaftsprüfungsgesellschaft was appointed as auditor
for the 2011 annual financial statements and annual consolidated
financial statements by the Annual General Meeting. The Supervisory
Board had previously assured itself of the auditor’s independence.