Reebok 2015 Annual Report Download - page 25

TO OUR SHAREHOLDERS
Supervisory Board Report
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in North America, this primarily reflects double-digit growth rates in Western Europe, Greater China and
numerous other emerging markets in which the Group is superbly positioned. Additionally, in the past
year, the company introduced its new strategic business plan ‘Creating the New’ for the period until 2020.
Through a substantial increase in the brands’ desirability, the Group aims to significantly improve sales and
earnings over the next five years. And in the short term as well, in light of upcoming product launches and
the presence of our brands at numerous high-profile sports events, our Group is extremely well positioned
to continue growing profitably this year.
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.
The Executive Board always explained immediately and in a detailed manner any deviations in business
performance from the established plans, and the Supervisory Board as a whole discussed these matters
in depth.
The Executive Board regularly provided us with comprehensive reports for the preparation of our meetings. We
thus always had the opportunity to critically analyse the Executive Board’s reports and resolution proposals
within the committees and within the Supervisory Board as a whole and to put forward suggestions before
resolving upon the Executive Board’s proposals after in-depth examination and consultation. In the periods
between our meetings, the Executive Board also provided us with extensive, timely monthly reports on the
current business situation.
In the year under review, we held five regular meetings of the entire Supervisory Board as well as one
extraordinary meeting by way of a conference call. Apart from two of these meetings which one Supervisory
Board member and one meeting which two Supervisory Board members were prevented from attending due to
other business appointments which could not be postponed, all members of the Supervisory Board attended the
meetings. The average attendance rate at meetings of the entire Supervisory Board was therefore just under
93%. All the committee meetings, with the exception of one Audit Committee meeting at which one member was
absent, were fully attended. The external auditor, KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG), attended
all regular meetings of the Supervisory Board, inasfar as no Executive Board matters were dealt with. KPMG
also attended all meetings of the Audit Committee. The employee representatives held separate meetings to
prepare and discuss agenda items for all meetings of the entire Supervisory Board.
In the periods between meetings, the Supervisory Board Chairman and the Audit Committee Chairman
maintained regular contact with the Chief Executive Officer and the Chief Financial Officer, conferring on matters
such as corporate strategy, business development and planning, the risk situation and risk management as
well as compliance. In addition, the Executive Board immediately informed the Supervisory Board Chairman
about any significant events of fundamental importance for the management and for evaluating the situation
and development of the company.