Mercedes 2010 Annual Report Download - page 21

To Our Shareholders | Report of the Supervisory Board | 17
In the second meeting of April 2010, the Supervisory Board dealt
with the course of business and results of the first quarter, as
well as with the legal settlement meanwhile reached with the US
authorities. In this meeting, the Supervisory Board welcomed
former US federal judge Louis Freeh in his function as the Daimler
Monitor appointed in the context of the settlement, and took
note of his explanation of important fundamental principles for
the ongoing cooperation as he saw them.
In May, among other matters, the Supervisory Board consented
to the proposal by the Board of Management to terminate the
listing of Daimler shares on the New York Stock Exchange and to
apply for deregistration of all securities with the US Securities
and Exchange Commission.
After discussing the business development and results of the second
quarter, the Supervisory Board authorized the Board of Manage-
ment in its meeting in July to carry out a capital increase at Mit-
subishi Fuso Truck and Bus Corporation, a company of the
Group. In the same meeting, the Monitor provided information
on the results of his first review.
During the two-day strategy workshop in September, the Super-
visory Board once again received detailed information on the sta-
tus of compliance at the Group. In addition, it dealt in detail
with the stage of implementation of the strategic goals set by the
Board of Management for Daimler AG and the individual divisions
in previous years. Against the backdrop of the current economic
situation, the Supervisory Board discussed the stage of imple-
mentation of projects initiated by the divisions, the positioning
of the Group and its divisions with regard to the competition, and
the brand and product strategies.
Other key points included:
– growth opportunities in the various markets,
– analyses of competitors,
– the latest trends in customer behavior, also with regard
to the future development of urban mobility,
– the overall technology and market strategy for
safeguarding sustainable mobility,
– the technological development of internal-combustion engines,
– electric, hybrid and hydrogen drive systems,
– management capacities and other human resources issues,
and
– other strategic topics.
In December, the Supervisory Board dealt in detail on the basis
of comprehensive documentation with the operational planning
for the years 2011/2012, including discussion of existing oppor-
tunities and risks and the Group’s risk management. The Super-
visory Board also decided on the financing limits for the year 2011.
Other matters discussed in the December meeting included corpo-
rate governance and Board of Management remuneration. In this
meeting, the Supervisory Board decided on specific quantitative
targets for its own composition in addition to existing qualitative
targets, in particular with regard to appropriate participation by
women.
Corporate governance. During 2010, the Supervisory Board was
continually occupied with the further development of corporate
governance, giving due consideration to legislative changes and
developments.
Since the renewal of the directors’ and officers’ insurance cover
(D&O insurance) on April 1, 2010, a deductible is included for
members of the Supervisory Board in the case of negligent breaches
of duty in the amount of 50% of a member’s annual remuneration.