Siemens 2010 Annual Report Download - page 73

261 Additional information 147 Consolidated Financial Statements

In fiscal , 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.
De viations 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 Manag-
ing Board, we discussed in detail all business transactions of major significance to the Company.
The proposals made by the Managing Board were approved after detailed examination and discus-
sion. We held a total of five regular meetings and one extraordinary meeting. We also voted on one
proposal 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 ensure the efficiency of its work, the Supervisory Board has a total of six standing 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 com-
mittees 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 Super-
visory Board committees and the number of committee meetings and decisions are shown on pages
- of Part II of this Annual Report.
The Chairman’s Committee met seven times in fiscal . It also voted on four proposals using
the notional voting process. Between meetings, I discussed topics of particular importance to the
Company with the members of the Chairman’s Committee. The Committee dealt with corporate-
governance-related matters, with the preparation of decisions concerning Managing Board com-
pensation and with various personnel-related topics.
The Mediation Committee was not required to meet in fiscal . The Finance and Investment
Committee met twice, primarily to discuss the development of the Company’s medium-term strategy
and to approve investment projects. The Committee also voted on two proposals using the notational
voting process.