Sennheiser 2011 Annual Report Download - page 41

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NOTES ON CONSOLIDATED FINANCIAL STATEMENTS 2011
80
NOTES ON CONSOLIDATED FINANCIAL STATEMENTS 2011
81
Regarding disclosure, the following subsidiaries in the legal form of a limited company or partnership within the
meaning of Section 264a HGB have made use of the exemption rule in accordance with Section 264, sub section 3,
and Section 264b HGB:
– Georg Neumann Gesellschaft mit beschränkter Haftung, Berlin, Germany,
– K + H Vertriebs- und Entwicklungsgesellschaft mbH, Wedemark, Germany,
– Sennheiser Consumer Electronics GmbH, Wedemark, Germany,
– Sennheiser Logistics Services GmbH, Wedemark, Germany,
– Sennheiser Vertrieb und Service GmbH & Co. KG, Hanover, Germany.
The parent company, in the form of a limited company within the meaning of Section 264a HGB, makes use of
the exemption rule in accordance with Section 264b HGB as the parent company producing the financial
statements.
Wennebostel, Germany, March 31, 2012
Sennheiser electronic GmbH & Co. KG
The Executive Management Board
F. FINANCIAL OBLIGATIONS
Other financial obligations
On the balance sheet date, there were rent and leasing obligations in the amount of €30,548 million.
There were also vehicle leasing liabilities in the amount of €773,000 and an obligation to order of €41.733 million.
In addition, there are liabilities of €934,000 resulting from hardware and software maintenance contracts.
G. OTHER STATUTORY INFORMATION
The unlimited partner of the parent company is Sennheiser Beteiligungsgesellschaft mit beschränkter Haftung,
Wedemark, whose subscribed capital amounts to €30,000.
The management of Sennheiser electronic GmbH & Co. KG is the responsibility of Sennheiser Beteiligungs-
gesellschaft mit beschränkter Haftung, Wedemark.
The following persons were appointed as Presidents, collectively representing Sennheiser Beteiligungsgesellschaft
mit beschränkter Haftung, Wedemark:
Volker Bartels, Hanover, Germany, President, Corporate Services, and Speaker of the Executive Management
Board (EMB)
Dr. Heinrich Esser, Wedemark, Germany, President, Professional Systems
Daniel Sennheiser, Zurich, Switzerland, President, Strategy and Finance
Peter Claussen, Burgwedel, President, Integrated Systems (effective August 1, 2011)
Dr. Andreas Sennheiser, Isernhagen, President, Supply Chain (effective January 1, 2012)
During the year under review, the members of the Supervisory Board were:
Prof. Dr. Jörg Sennheiser, Chairman, Wedemark, Germany,
Dr. Frank Heinricht, Chairman of the Management of Heraeus Holding GmbH, Hanau, Germany,
Andreas Dornbracht, Managing Director of Aloys F. Dornbracht GmbH & Co. KG Armaturenfabrik, Iserlohn,
Germany,
Johann Soder, Director of Technology of SEW-EURODRIVE GmbH & Co. KG, Bruchsal, Germany.
Total remuneration of the members of the Executive Team came to €1.463 million (€2.159 million in the previous
year) and that of the Supervisory Board to €348,000 (€348,000 in the previous year).
Volker Bartels
President, Corporate Services, and
Speaker of the Executive Management
BoardExecutive Mange
Dr. Heinrich Esser
President, Professional Systems
Daniel Sennheiser
President, Strategy and Finance