Porsche 2012 Annual Report Download - page 19

Cooperation between the supervisory board and the executive board
As part of its advisory and oversight functions, the supervisory board was kept informed throughout the
fiscal year by means of written and verbal reports from the executive board and in joint meetings. The re-
porting dealt in particular with the situation of the company, business development and business policy, as
well as development of the net assets, financial position, results of operations, and the liquidity situation.
The supervisory board examined the main planning and reporting documents submitted to it and satisfied
itself that these were correct and adequate. It reviewed and discussed all the reports and documents pre-
sented to the extent required and subjected them to a critical review. Between the individual meetings of
the supervisory board, various members of the supervisory board held talks with members of the executive
board. In the reporting year, the chairman of the supervisory board was also continually in contact with the
executive board.
The supervisory board, both as a whole and via the integrated automotive group committee deployed
by it, intensively reviewed the creation of the integrated automotive group and its effect on the company’s
net assets, financial position and results of operations. In addition, it examined other fundamental issues of
corporate planning, in particular financial, liquidity, investment and human resources planning. After a
thorough examination, the supervisory board approved all matters presented to it by the executive board
for approval or passed resolutions in accordance with the co-determination agreement, the articles of as-
sociation or the rules of procedure of the executive board. In the meetings of the whole supervisory board,
such matters specifically included the voting behavior at the annual general meeting of Volkswagen AG
regarding the exoneration of the management for the fiscal year 2011 and the election of members of the
supervisory board, the voting behavior of Porsche Zwischenholding GmbH at the annual general meeting of
Dr. Ing. h.c. F. Porsche Aktiengesellschaft regarding the exoneration of the management for the fiscal year
2011, the conclusion of a framework service agreement with Dr. Ing. h.c. F. Porsche Aktiengesellschaft, as
well as the formation of a shelf company.
The supervisory board satisfied itself that the executive board duly conducted the company’s business.
This also applies to appropriate risk provisioning and compliance. The supervisory board monitored wheth-
er the executive board took the measures for which it is responsible pursuant to Sec. 91 (2) AktG and that
the risk monitoring system prescribed therein works effectively.
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