Siemens 2012 Annual Report Download - page 102

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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.
Deviations from business plans were explained to us in detail. The Managing Board coordinated with
us the Company ’s strategic orientation. On the basis of reports submitted by the Managing Board,
we considered in detail all business transactions of major significance to the Company. The proposals
made by the Managing Board were approved after detailed examination and consultation. We held
a total of six regular meetings.
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 current developments in the Com pany ’s
business situation and on 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, which
prepare the proposals for the Supervisory Board as well as the issues to be dealt with at the Board’s
plenary meetings. Where legally permissible, the Supervisory Board’s decision-making powers are also
delegated to these committees. The chairpersons of the committees report to the Supervisory Board
on the committees’ work at the subsequent Board meetings. The composition of the individual Super-
visory Board committees and the number of committee meetings and decisions are shown in chapter
.     ,  - below.
The Chairman’s Committee met six times in fiscal . It also voted on five proposals using a
notional, or written, voting process. Between meetings, I discussed topics of particular importance
to the Com pany with the members of the Chairman’s Committee. The Committee dealt with corpo rate-
governance-related matters, including the Declaration of Conformity with the German Corporate
Governance Code, with the preparation of decisions concerning Managing Board compensation, with
the assump tion by Managing Board members of positions in other companies and institutions,
and
Despite a difficult economic environment and
special burdens in the project business, Siemens’
overall performance in fiscal 2012 was respectable.
Dear shareholders,
.     