Mercedes 1999 Annual Report Download - page 117

REPORT OF THE SUPERVISORY BOARD
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means of improving global competitiveness and accelerating
the optimization of successful programs such as Airbus and
the Eurofighter. Another topic at the meeting was the decision
to promote the Mercedes-Benz SLR as a unique vehicle
combining typical Mercedes design, pioneering innovation,
safety and performance, thus underscoring the brand’s pre-
mium position in the sports car segment. In addition to the
successful transfer of technology and image attributes from
Formula One into series production, the SLR also signifies
the continuation of the Silver Arrows legend. The initial
public offering of debitel and the sale of a part of the debitel
shares to Swisscom AG reflected the rapid changes taking
place on the international telecommunications market. The
choice of Swisscom AG as a partner will guarantee further
long term growth potential for this business unit.
In an extraordinary meeting on September 24, 1999, the
Supervisory Board turned its attention to the new corporate
structure, the allocation of responsibilities and the person-
nel changes at the Board of Management level. With the
successful completion of the integration process, Theodor R.
Cunningham, Dr. Kurt J. Lauk, Thomas T. Stallkamp and
Heiner Tropitzsch stepped down from the Board of Manage-
ment, effective September 30, 1999. The Supervisory Board
appointed Günther Fleig as a full member of the Board of
Management, responsible for the Human Resources depart-
ment, and as labor relations director, effective October 1,
1999. James P. Holden was appointed Head of the Chrysler
Group division, and Dr. Dieter Zetsche was named Head of the
Commercial Vehicles division. The new management structure
reflects the global nature of DaimlerChrysler’s vehicles busi-
ness and ensures a stronger focus on customers and markets.
The last Supervisory Board meeting of the 1999 business
year, which took place in December, addressed medium-
term corporate planning for the period 2000-2002, includ-
ing planning for investment, human resources and earnings,
as well as the refinancing limit for the company. The other key
issue at the meeting was the consolidation of aerospace
activities in the European Aeronautic Defence and Space
Company.
The DaimlerChrysler financial statements for 1999 and the
business review report were audited by the KPMG Deutsche
Treuhand-Gesellschaft AG, Berlin and Frankfurt/Main, and
certified without qualification.
The same applies to the consolidated financial statements
according to US GAAP. These were supplemented by a con-
solidated business review report and additional notes in
accordance with Article 292a of the German Commercial
Code (HGB). In accordance with Article 292a, the US GAAP
consolidated financial statements presented in this report
grant exemption from the obligation of producing consoli-
dated financial statements according to German law.
All financial statements and the appropriation of earnings
proposed by the Board of Management as well as the auditors’
reports were submitted to the Supervisory Board. These were
inspected by the Financial Audit Committee and the
Supervisory Board and discussed in the presence of the
auditors. The Supervisory Board has declared itself in
agreement with the result of the final audit and has estab-
lished that there are no objections to be made.
In its meeting on February 25, 2000, the Supervisory Board
approved the consolidated financial statements and the
financial statements of DaimlerChrysler AG for 1999, and
consented to the appropriation of earnings proposed by
the Board of Management.
The Supervisory Board expresses its thanks to the
DaimlerChrysler Board of Management, the company’s
employees, and those Board of Management members
who have retired, for their tremendous individual efforts
and shares their happiness on the great successes
achieved in DaimlerChrysler’s first full year of operation.
Stuttgart-Möhringen, February 2000
The Supervisory Board
Hilmar Kopper
Chairman