Siemens 2006 Annual Report Download - page 235
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Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts) 231
Compensation Report
The Compensation Report outlines the principles used for determining the compensation of
the Managing Board of Siemens AG and sets out the level and structure of Managing Board
remuneration. In addition, the report describes the policies and levels of compensation paid to
Supervisory Board members and gives details of stock ownership by members of the Manag-
ing and Supervisory Boards.
The Compensation Report is based on the recommendations and suggestions of the Ger-
man Corporate Governance Code and comprises data that, in accordance with the require-
ments of the HGB as amended by the new Act on the Disclosure of Managing Board Remunera-
tion (VorstOG), are an integral part of the Notes to Consolidated Financial Statements
pursuant to § 314 of the HGB.
The Compensation Report is presented within the Corporate Governance Report, included
in this Annual Report for fiscal year 2006, beginning on page 86.
Corporate governance
Siemens Aktiengesellschaft and Cycos AG, currently the sole German publicly traded corpora-
tion consolidated by the Company, provided the certifications required by Par. 161 of the Ger-
man stock corporation law (AktG). Those companies made the certifications available to its
shareholders.
This is a translation of the German „Konzernabschluss gemäß Art. 57 und 58 EGHGB in
Verbindung mit § 292a HGB der Siemens AG zum 30. September 2006“. Sole authoritative and
universally valid version is the German language document.
Notes to Consolidated Financial Statements