Siemens 2014 Annual Report Download - page 120

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Berlin and Munich, December , 
In fiscal , the Managing Board cooperated with the Supervisory Board closely
and regularly in the development of Vision , which defines Siemens’ long-term
perspective along the electrification value chain, with our strengths in automation
and digitalization. The goal is to enhance Siemens’ performance in the short term,
strengthen its core business in the medium term and return to profitable growth.
In fiscal , the Supervisory Board performed with great diligence 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 at an early stage in all major decisions regarding the Company. In written
and oral reports, the Managing Board regularly provided us with timely and com-
prehensive information on Company planning and business operations as well as
on the strategic development and current state of the Company. On the basis of
reports submitted by the Managing Board, we considered in detail business devel-
opment and all decisions and transactions of major significance to the Company.
Deviations from business plans were explained to us in detail and intensively
discussed. The Managing Board coordinated the Company’s strategic orientation
with us. The proposals made by the Managing Board were approved by the Super-
visory Board and / or the relevant Supervisory Board committees after in-depth
examination and consultation. In my capacity as Chairman of the Supervisory
Board, I was also in regular contact with the Managing Board and, in particular,
with the President and CEO and was kept up-to-date on current developments
in the Company’s business situation and on key business transactions. In addition,
I engaged in separate discussions with members of the Managing Board regard-
ing the prospects for and the future orientation of individual Siemens businesses.
Topics at the plenary meetings of the Supervisory Board
We held a total of six regular meetings and three extraordinary meetings in fiscal
. In addition, we made one decision outside meetings. Attendance at Supervisory
Board meetings by members was around  %.
Regular topics of discussion at our plenary meetings were revenue, profit and
employ ment development at Siemens AG, at the Company’s operating units
and at the Siemens Group as well as the Company’s financial situation, profitability
and major investment and divestment projects.
A. Report of the Supervisory Board