Reebok 2014 Annual Report Download - page 18

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14
2014
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01.4
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Supervisory Board Report
To Our Shareholders
adidas Group
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2014 Annual Report
Supervisory Board Report
Dear Shareholders,
We look back on 2014 as a challenging year. Thanks to strong brands and partnerships in the world of sport, as well as first-
class innovations, the adidas Group was again able to achieve strong sales growth. However, the ongoing weakness in the golf
market, negative economic developments in Russia/CIS and continuing unfavourable currency developments, in particular
the considerable devaluation of the Russian rouble, significantly impacted the Group’s results. Nevertheless, these issues
have been resolutely managed, and we have taken the appropriate steps not only to safeguard the financial results in the
short term but also to sustainably improve the Group’s profitability in the long term. Our company is now well positioned to
again achieve sales growth at all brands as well as an overproportionate improvement in the Group’s profitability in 2015.
Supervision and advice in dialogue with the Executive Board
In the year under review, we again performed all our tasks laid down by law, the Articles of Association and the Rules
of Procedure carefully and conscientiously. We regularly advised the Executive Board on the management of the company
and diligently and continuously supervised its management activities, assuring ourselves of the legality, expediency and
regularity thereof.
The Executive Board involved us directly 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 individual transactions where
required by law.
The Executive Board informed us extensively and in a timely manner through written and oral reports at our Supervisory
Board meetings. This information covered all relevant aspects of the Group’s business strategy, business planning, including
finance, investment and personnel planning, the course of business and the Group’s financial position and profitability. We
were also kept up to date on matters relating to the risk situation, risk management and compliance as well as all major
decisions and business transactions.
Igor Landau
CHAIRMAN OF THE SUPERVISORY BOARD