DEUTSCH | ENGLISH | TÜRKÇE


Corporate Governance

Committees of the Supervisory Board

Extract of the terms and conditions of the supervisory board:

Auditing Committee

(1) The supervisory board forms an auditing committee for the auditing and preparing of the approval of the financial statements, the proposal of allocation of profits and of the management report, the auditing of the group accounts as well as for making a proposal for the selection of the auditor (group auditor). After the election of the auditor (group auditor), through the general assembly, the examining board issues an audit assignment and negotiates the fee.

(2) The auditing committee is constituted of two or more members of the supervisory board. The function of the auditing committee is currently executed by the entire supervisory board. The chairman of the supervisory board is also chairman of the auditing committee. The vice-chairman of the supervisory board is also vice chairman of the auditing committee.

(3) The auditing committee must have at least one meeting a year, which must be at the end of every business year and before the meeting of the supervisory board for the auditing of the annual accounts and the group accounts. The group auditor has to be present at this meeting.

(4) Incidentally all terms for the supervisory board apply correspondingly to the auditing committee.

Chairmanship

(1) The Chairmanship is constituted of the chairman and the vice-chairman.

(2) The Chairmanship is incumbent upon the function of the nominating committee, compensation committee as well as the committee of decisions in urgent matters.

(3) The Chairmanship as nominating committee submits proposals of open mandates in the board and concerns itself with matters of successions to the supervisory board .

(4) The Chairmanship as compensation committee concerns itself with matters concerning the relationship to the company and the members of the board, the payment of board members and the content of employment contracts of the board members.

(5) The Chairmanship, as committee of decisions in urgent matters, takes responsibility for business in need of consent.

(6) Incidentally all terms for the supervisory board apply correspondingly to the Chairmanship.



« Back