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Further Mandates of the Supervisory Board/Committees/Corporate Governance
To our Shareholders
Corporate Governance
Report by the Board of Management and the Supervisory Board
Deutsche Post AG’s goal for corporate governance is to generate a sustained increase
in the Company’s value while promoting the trust of investors, customers, employees,
and the public in its management and supervision. We understand the need to opti-
mally balance the division of tasks and responsibilities between the Supervisory Board
and the Board of Management as a material element of responsible corporate manage-
ment.
German Corporate Governance Code sets the framework
The statutory framework for corporate governance is primarily set by the German
law on stock corporations, which has been supplemented since February 2002 by the
German Corporate Governance Code. The government commission set up for this
purpose formulated uniform guidelines for German companies, which make the
existing rules of good corporate governance transparent for foreign investors as well.
The German Corporate Governance Code is revised at regular intervals by the gov-
ernment commission and is also adjusted to meet international developments.
It was most recently amended in May 2003. The annual Declaration of Conformity
issued by Deutsche Post AG as required under section 161 of the Aktiengesetz
(AktG – German Stock Corporation Act) is always based on the most recent version
as amended.
Dual management and supervisory structure
In accordance with German stock corporation law, Deutsche Post AG has a dual
management and supervisory structure embodied in the Board of Management and
Supervisory Board as executive bodies. The Board of Management consists of eight
members, who jointly manage the Company. Their names, curricula vitae, areas of
responsibility and mandates in supervisory bodies of other companies are presented
in this Annual Report on Page 5 and 6.
The Supervisory Board oversees the management activities of the Board of
Management. The Supervisory Board consists of 20 members, who, pursuant to the
Mitbestimmungsgesetz (MitbestG – German Co-Determination Act), are divided
equally between shareholders’ representatives and employee representatives. The share-
holders’ representatives are elected by the Annual General Meeting or, alternatively,
appointed until the next election; the employee representatives are appointed in
accordance with the Mitbestimmungsgesetz. Seven employee representatives are
employees of the Group, another three are union representatives. The names, profes-
sions and mandates in supervisory bodies of other companies are also presented in
this Annual Report.