Siemens 2008 Annual Report Download - page 102

Dear Shareholders,
In fiscal 2008, we made great strides in reorganizing our business
activities. Despite restructuring-related expenditures, the year was
a successful one for Siemens.
In scal 2008, 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 busi-
ness plans were explained to us in detail. Together with the Managing Board, we determined the Compa-
ny’s strategic orientation. On the basis of reports submitted by the Managing Board, we discussed in
detail all business transactions of major signicance to the Company. The proposals made by the Manag-
ing Board were approved after detailed examination and discussion. We held a total of six regular meet-
ings and one extraordinary meeting. When necessary, we voted on proposals using a notational, or writ-
ten, voting process.
6 Report of the Supervisory Board