Reebok 2013 Annual Report Download - page 51

adidas Group
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2013 Annual Report
To Our Shareholders
47
2013
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01.7
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Supervisory Board Report
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The Mediation Committee, established in accordance with the German Co-Determination Act
(Mitbestimmungsgesetz – MitbestG), had no reason to convene in 2013.
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The Nomination Committee held one meeting in the year under review. The focal point of this meeting was the
preparations for the next election of shareholder representatives on the Supervisory Board by the Annual General
Meeting on May 8, 2014.
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Ad hoc committees: The ad hoc “Committee for Real Estate Projects”, which was established in 2009, and the
ad hoc “Convertible Bond/Bond with Warrants” committee did not meet in the year under review.
Examination of the adidas AG 2013 annual financial statements and
consolidated financial statements
KPMG audited the 2013 consolidated financial statements 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 2013 annual financial statements
of adidas AG, prepared in accordance with HGB requirements, as well as the combined management report for
adidas AG and the Group. The financial statements, the proposal put forward by the Executive Board regarding
the appropriation of retained earnings and the auditor’s reports were distributed by the Executive Board to all
Supervisory Board members in a timely manner. We examined the documents in depth, with a particular focus
on legality and regularity, in the presence of the auditor at the Audit Committee meeting held on February 28,
2014 and at the Supervisory Board’s March 4, 2014 financial statements meeting, during which the Executive
Board explained the financial statements in detail. The Executive Board’s commentaries concerning the goodwill
impairment necessary for the 2013 financial year were also a topic at these meetings. At both meetings, the
auditor reported the material results of the audit with a focus on the priority topics of the year under review as
agreed with the Audit Committee and was available for questions and the provision of additional information.
The auditor did not report any significant weaknesses with respect to the internal control and risk management
system relating to the accounting process. We also discussed in depth with the Executive Board the proposal
concerning the appropriation of retained earnings, which provides for a dividend of € 1.50 per dividend-
entitled share and adopted it in light of the Group’s good financial situation and future prospects as well as the
expectations of our shareholders. Based on our own examinations of the annual and consolidated financial
statements, we are convinced that there are no objections to be raised. At our financial statements meeting,
therefore, following the recommendation of the Audit Committee, we approved the audit results and the financial
statements prepared by the Executive Board. The annual financial statements of adidas AG were thus approved.
Expression of thanks
On behalf of the adidas Group, we wish to thank Erich Stamminger for his leadership and his expertise as well as
for his countless contributions to the success of the Group and its brands over the last three decades.
Furthermore, on behalf of the Supervisory Board, I wish to thank the Executive Board and all adidas Group
employees around the world for their tremendous personal dedication, their performance and their ongoing
commitment, and I also thank the employee representatives for their good collaboration.
For the Supervisory Board
IGOR LANDAU
Chairman of the Supervisory Board
March 2014