DHL 2014 Annual Report Download - page 113

e Finance and Audit Committee met seven times. Following Hero Brahms’ resignation, both Stefan
Schulte, Chair of the Finance and Audit Committee since  May , and Simone Menne, also a mem-
ber of the Finance and Audit Committee since  May , have the accounting and auditing expertise
required under the Aktiengesetz (AktG – German Stock Corporation Act). At the March meeting, the
Committee examined the annual and consolidated nancial statements for  and recommended that
the Supervisory Board approve the statements. e auditors attended the meeting and gave a detailed
presentation on their ndings regarding the key audit priorities for  as dened by the Committee
and made specic recommendations based on their ndings. Following the , the Finance and Audit
Committee engaged the auditors to audit the  annual and consolidated nancial statements and the
interim nancial report for the rst half of the year. e Committee also dened the key audit priorities.
e Committee discussed the reviewed quarterly and half-year interim reports together with the Board
of Management and the auditors prior to publication. e March meeting also examined recommen-
dations to the Supervisory Board regarding the agenda of the  and its proposed resolutions. Key
Group risk management factors were also examined during the meeting as planned. At the Finance and
Audit Committee meeting on  June , the Committee listened to a presentation on the ndings of
internal audits and discussed measures to implement the auditors’ recommendations on the key audit
priorities. At the Finance and Audit Committee meeting on  September , the Chief Compliance
Ocer presented a detailed report on compliance. e report focused primarily on enhancing com pliance
organisation and management. e Finance and Audit Committee advised the Super visory Board to
transfer responsibility for    activities to the Strategy Committee. e Committee also examined the
investment strategy for pension assets. On  December , the Finance and Audit Committee meet-
ing concentrated on the Group business plan for  and recommended that the Supervisory Board
approve the plan. e Committee discussed the Group’s performance and the internal control and risk
management system at regular inter vals during the year. e Committee discussed the appropriateness
of the Group’s accounting system with the auditors.
e Strategy Committee met twice in  and focused primarily on the progress made on imple-
menting Strategy , as well as how to develop and implement Strategy .
e Nomination Committee met once in  to discuss nominations for the   and approve
the recommendations made to the Supervisory Board. Here, discussions covered the re-election of
Henning Kagermann, Ulrich Schröder and Stefan Schulte and the nomination of Simone Menne for
membership of the Supervisory Board.
e Mediation Committee formed pursuant to section   of the Mitbestimmungsgesetz (German
Co-determination Act) met once in .
e chairs of the committees reported on the committees’ deliberations in the subsequent Supervisory
Board meeting.
Changes to the composition of the Supervisory Board and Board of Management
Having reached the upper age limit for oce, Hero Brahms stepped down as a member of the Super-
visory Board at the end of the  on  May . e  elected Simone Menne as a shareholder
representative on the Supervisory Board. At the extraordinary meeting held immediately aer the ,
the Supervisory Board voted to appoint Stefan Schulte as chair and Simone Menne as a member of the
Finance and Audit Committee. Details of the current members of the Supervisory Board committees can
be found on page . With regard to the employee representatives, Heinrich Josef Busch, the execu -
tive management representative, resigned from the Supervisory Board as of  November , on the
grounds that he would reach retirement age at the end of the year. Jörg von Dosky was appointed by the
court as his successor on the Supervisory Board on  December . e composition of the Board of
Management changed as follows during the year under review: Bruce Edwards stepped down from the
Board of Management on  March . He was replaced by John Gilbert, who became a member of the
Board of Management on  March . Angela Titzrath stepped down from the Board of Management
Deutsche Post  Group —  Annual Report
107
Corporate Governance — REPORT OF THE SUPERVISORY BOARD