DHL 2014 Annual Report Download - page 122

2 e company’s international activities are already adequately reected in the com-
position of the Supervisory Board. e Supervisory Board aims to maintain this
and will therefore, in future proposals to the , consider candidates whose origin,
education or professional experience equip them with international knowledge and
experience.
3
Conicts of interest aecting Supervisory Board members are an obstacle to provid-
ing independent and ecient advice to, and supervision of, the Board of Manage-
ment. e Supervisory Board will decide how to deal with potential or actual con-
icts of interest on a case-by-case basis, in accordance with the law and giving due
consideration to the German Corporate Governance Code.
4 In accordance with the age limit adopted by the Supervisory Board and laid down
in the rules of procedure for the Supervisory Board, proposals for the election of
Super visory Board members must ensure that the term of oce ends no later than
the close of the Annual General Meeting aer the Supervisory Board member
reaches the age of .
e current composition of the Supervisory Board meets all these targets. Simone
Menne was elected as a member of the Supervisory Board by the  . She has
worked for Luhansa  for many years, which has given her a great deal of busi-
ness experience and an excellent understanding of the industry. Simone Menne will
also be able to support the Supervisory Board as an additional nancial expert. With
regard to the employee representatives, Heinrich Josef Busch, the executive manage-
ment representative, resigned from the Supervisory Board as of  November , aer
many years of service. He was succeeded by Jörg von Dosky, who was appointed by the
court as a Supervisory Board member on  December . Having been a manager
with the company for many years, Jörg von Dosky has a sound understanding of the
management perspective. At present,   of Supervisory Board members are female,
which is above our target. e number of independent members of the Supervisory
Board also currently exceeds the target. All members of the Supervisory Board are in-
dependent members as dened by the German Corporate Governance Code. In view of
the European Commission’s recommendation on independent non-executive directors,
the wide-ranging protection against summary dismissal and the ban on discrimination
contained in the Betriebsverfassungsgesetz (German Works Constitution Act) and Mit-
bestimmungsgesetz (German Co-Determination Act), it must be assumed that being
an employee is consistent with the requirement for independence as dened by the
Code. e largest shareholder in the company, KfW Bankengruppe, currently holds
approximately   of shares in Deutsche Post . ere are therefore no controlling
shareholders as dened in the Code with whom relationships might exist that could
call into question the Supervisory Board’s independence. e international nature of
the company’s business is also appropriately reected in the extensive international
experience of many Supervisory Board members.
Deutsche Post  Group —  Annual Report
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