Siemens 2008 Annual Report Download - page 312

216 Notes to Consolidated Financial Statements – Positions held by Supervisory Board members
Supervisory Board committees
The Supervisory Board of Siemens AG has established six standing committees. Information on their activities in fiscal 2008 is provided on pages 6-11 of this Report.
Committees
Chairman’s
Committee
Meetings in
fiscal 2008
7 meetings
10 decisions by
notational
voting using
written circu-
lations
Duties and responsibilities
The Chairman’s Committee of the Supervisory Board is responsible for
reviewing basic issues of business policy and management, particularly
matters concerning the Managing Board. The Committee makes recom-
mendations to the Supervisory Board on the appointment and dismissal
of Managing Board members and prepares the Supervisory Board propos-
al for Managing Board compensation, including key contract elements. In
connection with this Supervisory Board proposal, the Committee executes
the employment contracts with Managing Board members and defines
the annual goals in terms of which the amount of their variable compen-
sation is measured. The Committee makes recommendations to the
Supervisory Board on the composition of Supervisory Board committees.
The Committee decides whether to approve business transactions with
Managing Board members and related parties. The Committee’s duties
include regularly reviewing the Company’s corporate governance princi-
ples and formulating proposals to improve the Company’s approach to
corporate governance issues.
Members as of
September 30, 2008
Gerhard Cromme, Dr. iur.
(Chairman)
Ralf Heckmann
Josef Ackermann, Dr. oec.
Berthold Huber
(since January 24, 2008)
Audit Committee 8 meetings
0 decisions by
notational
voting using
written circu-
lations
The Audit Committee’s duties include preparing Supervisory Board
reviews of the annual financial statements of Siemens AG and of the con-
solidated financial statements of Siemens worldwide. The Committee also
reviews the quarterly financial statements and the half-year financial
report and liaises with Siemens’ internal financial auditors and with the
independent auditors (particularly with regard to awarding the audit con-
tract, defining the focal points of the audit, determining the auditors’ fee
and monitoring their independence).
Hans Michael Gaul,* Dr. iur.
(since January 24, 2008) (Chairman)
Gerhard Cromme,* Dr. iur.
Ralf Heckmann
John David Coombe
(until January 24, 2008)
Heinz Hawreliuk
Dieter Scheitor
(since January 24, 2008)
Henning Schulte-Noelle,* Dr. iur.
(until January 24, 2008) (Chairman)
Lord Iain Vallance of Tummel
(since January 24, 2007)
Compliance
Committee
5 meetings
0 decisions by
notational
voting using
written circu-
lations
During the ongoing compliance investigation, the Compliance Committee
will deal with the following subjects on behalf of the Supervisory Board:
overseeing the ongoing compliance investigation, processing reports from
the law firm Debevoise & Plimpton LLP on its independent investigation
and review of the internal compliance and control systems, and monitor-
ing the Company’s adherence to statutory provisions, official regulations
and internal company policies.
Gerhard Cromme, Dr. iur.
(Chairman)
Ralf Heckmann
John David Coombe
(until January 24, 2008)
Hans Michael Gaul, Dr. iur.
(since January 24, 2008)
Bettina Haller
(since January 24, 2008)
Heinz Hawreliuk
Henning Schulte-Noelle, Dr. iur.
(until January 24, 2008)
Lord Iain Vallance of Tummel
(since January 24, 2008)