Siemens 2009 Annual Report Download - page 95

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 Managing Board statements, Independent auditors’ report, Additional information
In fiscal , the Supervisory Board performed the duties assigned to it by law, the Siemens Arti-
cles 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 Com-
pany planning and business operations as well as on the strategic development and current state
of the Company. 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 sub-
mitted 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 meetings and two extraordinary meet-
ings. When necessary, we voted on proposals using a notational, or written, voting process.
In my capacity as Chairman of the Supervisory Board, I was in regular contact with the Managing
Board between Supervisory Board meetings and was kept up-to-date on the Company ’s current
business situation and key business transactions. At separate strategy meetings, I discussed with
the Managing Board the perspectives and future orientation of the Company ’s individual businesses.
Work in the Supervisory Board committees
To enhance the efficiency of its work, the Supervisory Board has set up a total of six committees to
prepare the proposals for the Supervisory Board as well as the issues to be dealt with at the Board’s
plenary meetings. The decision-making powers of the Supervisory Board are delegated to these
committees where legally permissible. The chairmen of the committees report to the Supervisory
Board on the committees’ work at subsequent Board meetings. The composition of the individual
Supervisory Board committees and the number of committee meetings and decisions are shown
on pages  ff. of Book II of this Annual Report.
The Chairman’s Committee met five times in fiscal . Between meetings, I also discussed
topics of particular importance to the Company with the members of the Chairman’s Committee.
The Chairman’s Committee dealt with corporate governance principles and with various person-
nel topics.
The Mediation Committee was not required to meet in fiscal . The Finance and Investment
Committee met three times, focusing on the development of the company ’s medium-term strat-
egy and on preparations for the Supervisory Board’s decision on the Company budget for fiscal
. In addition, seven decisions were made using the notational voting process, and the Commit-
tee approved the sale of the residential real estate managed by Siemens Wohnungsbaugesellschaft
and of the Company ’s stake in the Fujitsu Siemens Computers (FSC) joint venture.
The Audit Committee met six times. Together with the independent auditors, the President and
Chief Executive Officer, the Chief Financial Officer and the General Counsel, the Audit Committee
discussed the Annual Financial Statements and management’s discussion and analysis (MD&A) for
Siemens AG and the Consolidated Financial Statements and the consolidated MD&A for Siemens