DHL 1997 Annual Report Download - page 84

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The Supervisory Board performed the duties assigned by legal
mandate and statutes. In fiscal 1997, the Supervisory Board held four
meetings.
The Management has regularly informed the Supervisory Board in
writing about developments in sales and revenue and about the income
situation of the company. The Supervisory Board was informed about all
important business transactions. All measures requiring the approval of
the Supervisory Board were discussed at length. The Chairman of the
Supervisory Board kept in constant touch with the Chairman of the
Board of Management and was informed about all important business
transactions.
At the meetings held by the Supervisory Board, the Board of Manage-
ment gave a detailed account of the development of the business and of
the income of the company and its business divisions. The Board of
Management answered all questions posed by the Supervisory Board.
In addition, numerous other reports provided the Supervisory Board
with comprehensive information about the company’s general situation
as well as about issues of particular importance to the development of
the company. The topics discussed at length by the Supervisory Board
included the Board of Management reports on the new Postal Act, on the
status of the negotiations for further cooperation with Deutsche Post-
bank AG and on the envisaged strategic orientation of the company.
The new Postal Act defines the regulatory framework of the postal mar-
kets in the Federal Republic of Germany. The Act, which took effect in
early January 1998, provides a solid basis for a future-oriented corporate
policy and, on the whole, should ensure conditions for a successful pri-
vatization of the company and an environment in which Deutsche Post
can successfully compete.
Deutsche Post AG’s capital interest in Deutsche Postbank AG and the
cooperation agreement between the two companies in respect to utilizing
Deutsche Post’s branch network pave the way for the two companies
working and planing reliably together.
Josef Hattig, Chairman of the
Supervisory Board
Report by the
Supervisory Board
81