Reebok 2014 Annual Report Download - page 23

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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
also approved without qualification the 2014 annual financial statements of adidas AG, prepared in accordance with HGB
requirements, and 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 March 2,
2015 and at the Supervisory Board’s March 4, 2015 financial statements meeting, during which the Executive Board explained
the financial statements in detail. Further topics at these meetings were the Executive Board’s commentaries concerning
the impairment of goodwill and the Rockport disposal group necessary for the 2014 financial year. 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 the proposal under consideration of the share buyback
programme, the Group’s 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 came to the conclusion 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.
Changes on the Supervisory Board
The term of office of all members of the Supervisory Board expired at the end of the Annual General Meeting on May 8, 2014.
On the shareholder representatives’ side, Alexander Popov and Christian Tourres are no longer members of the Supervisory
Board that was elected that day for a term of five years. We expressed our thanks to the departing members for their many
years of dedicated and loyal collaboration. As new shareholder representatives on the Supervisory Board, the Annual General
Meeting – in line with the nominations submitted by the Supervisory Board based on the suggestions of the Nomination
Committee – elected Katja Kraus and Kathrin Menges. Furthermore, the Supervisory Board members seeking re-election
either on the shareholder representatives’ or the employee representatives’ side were confirmed in their respective elections.
At the constituent meeting of the Supervisory Board directly following the Annual General Meeting, we again confirmed the
Chairman, the Deputy Chairwoman and the Deputy Chairman in their respective offices, and also all the members of the
co-determined committees. Besides the re-election of Willi Schwerdtle and myself, we also elected Kathrin Menges to join the
Nomination Committee.
Expression of thanks
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 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 2015