The Supervisory Board has established the following four standing committees. The Report of the Supervisory Board provides information on the concrete work of the committees over the preceding year.
| Committee |
Meetings
in 2003 |
Responsibilities |
Members as of
December 31, 2003 |
| Chairman's Committee |
4 |
prepares decisions by the Supervisory Board on the appointment and dismissal of members of the Board of Managing Directors, including long-term succession planning in the Board of Managing Directors; responsible for deciding the terms of the service contracts and other contractual arrangements between us and members of our Board of Managing Directors; for the approval of ancillary activities of members of the Board of Managing Directors; and for the statutorily required approval of certain contracts between us and members of the Supervisory Board and Board of Managing Directors; prepares Supervisory Board decisions with respect to corporate governance |
Dr. Rolf-E. Breuer
- Chairperson
Heidrun Förster
Dr. Ulrich Cartellieri
Ulrich Kaufmann |
| Audit Committee |
5 |
mandates the independent auditors that the annual shareholders' meeting elects; sets the compensation of the independent auditor and may determine priorities for the audits; monitors the auditor's independence; reviews our interim reports and financial statements and discusses the audit report with the auditor; prepares the Supervisory Board's decision on the approval of the annual financial statements and the consolidated financial statements; discusses changes of accounting or auditing practices; arranges to be informed regularly about the work done by the internal audit; responsible for handling of complaints regarding accounting, internal accounting controls and auditing matters; approval of the engagement of non-audit services to our auditor |
Dr. Karl-Hermann Baumann
- Chairperson
Dr. Rolf-E. Breuer
Heidrun Förster
Dr. Ulrich Cartellieri
Sabine Horn
Rolf Hunck |
| Credit and Market Risk Committee |
6 |
responsible for the treatment of loans which, pursuant to law or our Articles of Association, require a resolution of the supervisory board; approves investments in other companies of between 2% and 3% of our regulatory banking capital; the Board of Managing Directors provides this committee with information on legal and reputational risks, credit exposures and related circumstances which are of special importance due to the risks or liabilities attached to them or for any other reason |
Dr. Rolf-E. Breuer
- Chairperson
Dr. Karl-Hermann Baumann
Dr. Ulrich Cartellieri
Sir Peter Job
- deputy member
Ulrich Hartmann
- deputy member |
| Mediation Committee |
0 |
responsible for making proposals to the Supervisory Board on the appointment or dismissal of members of the Board of Managing Directors in those cases where the Supervisory Board is unable to reach a two-thirds majority decision with respect to the appointment or dismissal |
Dr. Rolf-E. Breuer |
The duties, responsibilities and processes of the Chairman’s Committee and the Audit Committee are set out in separate terms of references, which are available on our Internet website.