DHL 2010 Annual Report Download - page 128

Four meetings during the reporting period
Two meetings were held in the  rst half and two in the second half of the year. All members partici-
pated in at least two meetings.
At the  nancial statements meeting on  March , with the auditors in attendance, we discussed
and approved the annual and consolidated  nancial statements for . We also renewed the seats on
the Board of Management of Bruce Edwards and Hermann Ude for a further  ve years to March
and discussed issues relating to the remuneration of the Board of Management. In addition, we discussed
the Group’s  nance strategy, particularly with reference to signi cant  nancial control parameters, its
credit rating and the use of liquidity. We also reviewed the results of the e ciency review of the work of
the Supervisory Board.
At the Supervisory Board meeting held on  June , the Board of Management informed us that
the sale of the day-de nite express business in France was shortly due to be concluded. Following the meet-
ing, we held a one-and-a-half-day closed meeting during which we discussed the Group’s Strategy 
in detail, as well as the strategies of the divisions.  e introduction of the -Postbrief product formed the
focus for the  division. On the subject of the  divisions, we discussed the programmes aimed at
achieving greater e ciency and growth. We discussed the results of the annual employee opinion survey
and the implementation of Strategy  in our  nance area. We also addressed the way in which the
Group is perceived externally and invited representatives from an investment bank and a management
consulting company as renowned guest speakers for this purpose.
In the meeting held on  September , we discussed the remuneration of the Board of Manage-
ment, including retirement pensions. As a result, we extended the Long-Term Incentive Plan by three
years, essentially preserving the current structure. In addition, the repurchase of shares in the cargo airline
Astar Air Cargo and the outsourcing of the airline operations to a new company outside the Group were
approved.  e restructuring of the  express business in  and the associated decline in volume made
an adjustment of the agreement with the cargo airline Astar necessary on cost grounds.
At the Supervisory Board’s last meeting of the year on  December , we adopted the business
plan for . We also discussed again the remuneration of the Board of Management, including agree-
ment of targets for  and retirement pensions. Furthermore, we discussed the amendments to the
German Corporate Governance Code. We set targets for the composition of the Supervisory Board and
resolved to continue to comply with all recommendations of the Government Commission on the German
Corporate Governance Code. We also submitted our Declaration of Conformity with the  German
Corporate Governance Code.
Hard work by the committees
 e Executive Committee met four times during the year under review.  e agenda focused pri-
marily on Board of Management and Supervisory Board business, such as the reappointment of Board
ofManagement members and the remuneration and retirement pensions for the Board of Management.
 e Personnel Committee also met four times, dealing mainly with the employee opinion survey,
strategic development projects in the area of human resources, the executive remuneration structure,
the objectives and structure of the subsidiary First Mail, corporate health management and the Group’s
commitment to education.
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