DHL 2005 Annual Report Download - page 12

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e subjects of the meeting on September 16, 2005, were the strategy of the LOGISTICS
Corporate Division and the acquisition of Exel plc. A special meeting was held on Octo-
ber 24, 2005, at which the acquisition of BHW Holding AG by Postbank was discussed
and approved.
In addition to the appointment of John Allan to the Board of Management, where he is
responsible for the Group’s expanded logistics activities, and the creation of the new cor-
porate division in the shape of Services, headed by Dr. Appel, the meeting on December
20, 2005, was used to discuss the international strategy of the MAIL Corporate Division
and adopt resolutions concerning the future focus of the division. e reorganization of
the retail outlet network was also on the agenda, a step that is designed to further boost
Postbank’s growth. In this context, the Supervisory Board decided to approve the sale of
850 retail outlets to Postbank. Furthermore, the Group’s business planning for the years
2006 to 2008 was discussed in detail and adopted. e Declaration of Conformity with the
German Corporate Governance Code for 2005 was also adopted.
Supervisory Board Committees are working efficiently
e Executive Committee met ve times in the year under review. e main topics of these
meetings were Board of Management matters and further developments to the company’s
system of corporate governance. is included issuing stock options to the members of
the Board of Management and setting the variable component of their remuneration for
2004. As in recent years, the recommended eciency review of the Supervisory Board’s
work was carried out on the basis of the rened questionnaire, which was completed by all
members of the Supervisory Board. e results showed that it had been possible to further
improve eciency thanks to the implementation of suggestions made the previous year.
New suggestions were also responded to.
e Personnel Committee met three times and focused primarily on the training pact
and the Code of Conduct, which contains guidelines for the responsible, ethical and legal
conduct of all employees. Partners and suppliers are also to be measured against these
guidelines in future.
e Finance and Audit Committee held six meetings, headed by Dr. Lennings, and focused
on the company acquisitions, each of which was also discussed by the full Supervisory
Board. In addition, the Committee examined and approved the annual and consolidated
nancial statements and discussed the interim reports. e Committee’s balance sheet
meeting was again attended by the auditors. e Committee additionally held intensive
discussions about accounting, risk monitoring and cooperation with the auditors. At the
regular meetings, members of the Board of Management gave presentations on the busi-
ness developments in their corporate divisions. e presentations were followed by more
detailed discussions.
Once again, the Mediation Committee set up in accordance with section 27 (3) of the
Mitbestimmungsgesetz (German Co-determination Act) did not need to meet in the scal
year under review.
Annual Report 2005
8