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adidas-Salomon ANNUAL REPORT 2000
53
Corporate Governance
adidas-Salomon AG monitoring system for early identification of
risk. They concluded that the existing system was appropriate
and that the management reports for adidas-Salomon AG and
the Group accurately reflected future risk. The financial state-
ments, the management reports and the auditors’ reports have
been presented to all the members of the Supervisory Board.
The year-end statements were discussed in detail at the annual
financial statements meeting of the Supervisory Board, during
which the auditors were present.
Having examined the consolidated financial statements, the
financial statements of adidas-Salomon AG, the management
reports and the proposal put forward by the Executive Board
regarding the appropriation of retained earnings, the Supervisory
Board approved the results of the audit. The Supervisory Board
also agreed with the management report and particularly with
the outlook for the future development of the Company. Addition-
ally, the proposal put forward by the Executive Board regarding
retained earnings was approved.
The financial statements submitted by the Executive Board for
the year ending December 31, 2000 were approved by the
Supervisory Board.
Committee Activities
In addition to its responsibilities as a whole, the Supervisory
Board also has two committees. The General Committee,
which deals with personnel matters related to the Executive
Board, met on three occasions in 2000.
The Mediation Committee, formed in accordance with § 27
section 3 of the German Co-Determination Act (MitBestG),
submits proposals to the Supervisory Board regarding the
appointment or dismissal of Executive Board members if the
two-thirds Supervisory Board majority necessary for a decision
is not achieved. This committee did not meet in 2000.
Changes on the Supervisory and Executive Board
Chief Executive Officer and Chairman Robert Louis-Dreyfus and
Deputy Chairman Christian Tourres resigned their mandates on
the Executive Board effective March 8, 2001. Also effective
March 8, 2001, the Supervisory Board appointed the Deputy
Chairman and Chief Operating Officer, Herbert Hainer, as
successor to Robert Louis-Dreyfus in the position of CEO and
Chairman of the Executive Board.
Furthermore, Robin Stalker, who had held the position of Chief
Financial Officer of adidas-Salomon AG since February 1, 2000,
was appointed to the Executive Board as Board Member for
Finance effective January 30, 2001.
Dr. Thomas Russell has tendered his resignation from the
Supervisory Board effective at the end of the Shareholders’
Meeting on May 10, 2001. The Supervisory Board thanked him
for his many years of dedication and commitment as a member
of the Supervisory Board.
The Supervisory Board will propose to the Shareholders’
Meeting that Christian Tourres be elected as a member of the
Supervisory Board.
Outlook
adidas-Salomon AG took on many challenges in the year
under review. Operationally, the targets the Company set for
itself have been achieved. The Supervisory Board is confident
that the groundwork has been completed to steer adidas-
Salomon AG into a positive future.
We appreciate the tremendous work of the Executive Board,
the Management Boards of the Group companies, the
Works Council and all employees and thank them for their
commitment.
The Supervisory Board
Henri Filho
(Chairman)
March 2001