The Supervisory Board: Advising & oversight
The Supervisory Board advises and oversees the Board of Management; it also appoints the members of the Board of Management. It has established rules of procedure that include the fundamental principles of its internal structure, a catalog of Board of Management transactions requiring its approval as well as rules for the Supervisory Board committees. It meets at least twice every half calendar year. Special meetings are held whenever particular developments or measures need to be discussed or decided quickly. The Supervisory Board has formed six committees that are charged among other things with addressing finance or personnel-related issues and preparing the resolutions of the plenary meetings of the Supervisory Board. The Strategy Committee that was set up in December 2013 will prepare material for discussion by the Supervisory Board relating to strategic matters and any new activities the company is to undertake, or existing activities that it will discontinue. It will also hold regular discussions on the competition faced by the company. The Supervisory Board has 20 members, consisting of ten shareholder representatives and ten employee representatives. Information about the work of the Supervisory Board and its committees in financial year 2013 is contained in the Report of the Supervisory Board in the Annual Report 2013. Information about the members of the Supervisory Board and the composition of the Supervisory Board committees can also be found in the Annual Report 2013.
Pursuant to section 17 of the Articles of Association of Deutsche Post AG resolved by the Annual General Meeting (AGM) in the version applicable until December 31, 2013, the annual remuneration paid to the members of the Supervisory Board comprises a non performance-related, i.e. fixed, component, a variable component geared towards sustainable corporate development and the attendance allowance. The AGM resolved on May 19, 2013 to modify the Supervisory Board remuneration as at January 1, 2014 and accordingly amended section 17 of the Articles of Association of Deutsche Post AG. While the performance-related remuneration component was taken out of force, the fixed component was increased. For further details and specific figures related to Supervisory Board remuneration, please refer to the Remuneration Report in our Annual Report.