Siemens 2007 Annual Report Download - page 6

6 Report of the Supervisory Board
Dear Shareholders,
In addition to very successful business operations, fi scal 2007 was
characterized by major changes and extraordinary events at the
Company. These developments also affected the composition and
work of the Supervisory Board and the topics with which it dealt.
In fi scal 2007, the Supervisory Board performed the duties assigned to it by law, the Siemens Articles
of Association and the Bylaws for the Supervisory Board. We regularly advised the Managing Board on
the management of the Company and monitored the Managing Board’s activities. We were directly
involved in all major decisions regarding the Company. In written and oral reports, the Managing
Board regularly provided us with timely and comprehensive information on Company planning and
business operations as well as on the strategic development and current state of the Company. Actual
deviations from business plans were explained to us in detail. Together with the Managing Board, we
determined the Company’s strategic orientation. On the basis of reports submitted by the Managing
Board, we discussed in detail all business transactions of major signifi cance to the Company. The
proposals made by the Managing Board were approved after detailed examination and discussion.
We held a total of six regular and two extraordinary meetings. Where necessary, we recorded our
decisions in writing.