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The Supervisory Board appoints, supervises and advises the Management Board and is directly involved in decisions of fundamental importance to the bank. The Management Board regularly informs the Supervisory Board of the intended business policies and other fundamental matters relating to the assets, liabilities, financial and profit situation as well as its risk situation, risk management and risk controlling. A report is made to the Supervisory Board on corporate planning at least once a year. On the basis of recommendations by the Chairman’s Committee, the Supervisory Board regularly discusses and reviews the structure of the Management Board’s compensation system. The Chairman of the Supervisory Board coordinates work within the Supervisory Board. He maintains regular contact with the Management Board, especially with the Chairman of the Management Board, and consults with him on strategy, the development of business and risk management. The Supervisory Board Chairman is informed by the Chairman of the Management Board without delay of important events of substantial significance for the situation and development as well as for the management of Deutsche Bank Group. The types of business that require the approval of the Supervisory Board to be transacted are specified in section 13 of our Articles of Association. The Supervisory Board meets if required without the Management Board. For the performance of its duties, the Supervisory Board may, at its professional discretion, use the services of auditors, legal advisors and other internal and external consultants.
The duties, procedures and committees of the Supervisory Board are specified in its Terms of Reference, which are available on the Investor Relations 
website.
The members representing our shareholders were elected at the Annual General Meeting on June 10, 2003, and the members representing our employees were elected on May 8, 2003. The following table shows information on the current members of our Supervisory Board. The information includes their ages as of December 31, 2006, the years in which they were first elected or appointed, the years when their terms expire, their principal occupation and their membership on other companies’ supervisory boards, other nonexecutive boards and other positions.
|
Member |
Principal occupation |
Supervisory board memberships and other directorships |
|
Dr. Clemens Börsig |
Chairman of the Supervisory Board of Deutsche Bank AG, Frankfurt |
Deutsche Lufthansa AG (since July 2006); Linde AG (since June 2006); Heidelberger Druckmaschinen AG (until March 2007); Foreign & Colonial Eurotrust Plc (until December 2007) |
|
Dr. Karl-Gerhard Eick |
Deputy Chairman of the board of managing directors of Deutsche Telekom AG, Bonn |
DeTe Immobilien Deutsche Telekom Immobilien und Service GmbH; T-Mobile International AG; T-Online International AG (until June 2006); T-Systems Enterprise Services GmbH; T-Systems Business Services GmbH; GMG Generalmietgesellschaft mbH (chairman, until March 2006); Sireo Real Estate Asset Management GmbH (chairman, until June 2006); FC Bayern München AG |
|
Heidrun Förster* |
Deputy Chairperson of the Supervisory Board of Deutsche Bank AG; Chairperson of the combined staff council Berlin of Deutsche Bank AG |
|
|
Ulrich Hartmann |
Chairman of the supervisory board of E.ON AG, Düsseldorf |
Deutsche Lufthansa AG; Hochtief AG; IKB Deutsche Industriebank AG (chairman); Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft; ARCELOR (until September 2006); Henkel KGaA (member of the shareholders’ committee) |
|
Gerd Herzberg* |
Deputy Chairman of ver.di Vereinte Dienstleistungsgewerkschaft, Berlin |
Franz Haniel & Cie GmbH (deputy chairman); DBV Winterthur Lebensversicherung AG; BGAG – Beteiligungsgesellschaft der Gewerkschaften AG; DAWAG – Deutsche Angestellten Wohnungsbau AG (chairman); Vattenfall Europe AG |
|
Sabine Horn* |
Employee of Deutsche Bank AG, Frankfurt |
|
|
Rolf Hunck* |
Member of the management body of PWM Germany of Deutsche Bank AG, Hamburg |
Fibula Finanz AG; HCI Capital AG; Kühne-Stiftung, Switzerland |
|
Sir Peter Job |
|
Schroders Plc; Tibco Software Inc.; Royal Dutch Shell; Mathon Systems (Advisory Board, since January 2007) |
|
Prof. Dr. Henning Kagermann |
Chairman and CEO of SAP AG, Walldorf |
DaimlerChrysler Services AG (until July 2006); Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft |
|
Ulrich Kaufmann* |
Member of the combined staff council Düsseldorf of Deutsche Bank AG |
|
|
Peter Kazmierczak* |
Deputy chairman of the combined staff council Ruhrgebiet-West of Deutsche Bank AG |
|
|
Maurice Lévy |
Chairman and Chief Executive Officer, Publicis Groupe S.A. Paris |
Publicis Conseil SA (France); Publicis USA Holdings, Inc. (USA); Medias et Régies Europe SA (France); MMS USA Holdings, Inc.; Fallon Group, Inc. |
|
Henriette Mark* |
Chairperson of the combined staff council Munich and Southern Bavaria of Deutsche Bank AG |
|
|
Prof. Dr. jur. Dr.-Ing. E. h. |
Chairman of the supervisory board of Siemens AG, Munich |
Hochtief AG; Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft; ThyssenKrupp AG; Volkswagen AG |
|
Gabriele Platscher* |
Chairperson of the combined staff council Braunschweig/Hildesheim of Deutsche Bank AG |
Deutsche Bank Privat- und Geschäftskunden AG; BVV Versicherungsverein des Bankgewerbes a.G. |
|
Karin Ruck* |
Deputy Chairperson of the combined staff council Frankfurt branch of Deutsche Bank AG |
Deutsche Bank Privat- und Geschäftskunden AG; BVV Versicherungsverein des Bankgewerbes a.G |
|
Dr. Theo Siegert |
Managing Partner of de Haen Carstanjen & Söhne, Düsseldorf |
Celesio AG (chairman; until April 2006); ERGO AG; Metro AG (chairman; until February 2006); Merck KGaA; E. Merck OHG, (member of the shareholders’ committee); DKSH Holding Ltd. (member of the board of administration); Takkt AG (until May 2006) |
|
Tilman Todenhöfer |
Managing Partner of Robert Bosch Industrietreuhand KG, Stuttgart |
Robert Bosch GmbH; Robert Bosch Int. Beteiligungen AG (president of the board of administration); Carl Zeiss AG (chairman); Schott AG (chairman) |
|
Dipl.-Ing. Dr.-Ing. E. h. |
Chairman of the supervisory board of Deutsche Lufthansa AG, Cologne |
Allianz Lebensversicherungs-AG; Bayer AG; Deutsche Post AG (chairman); Voith AG; LP Holding GmbH (chairman); Tetra Laval Group, Willy Bogner GmbH & Co. KGaA |
|
Leo Wunderlich* |
Chairman of the group staff council of Deutsche Bank AG, Mannheim |
|
|
* |
Employee-elected member of the Supervisory Board. |
Dr. Rolf-E. Breuer was Chairman of the Supervisory Board until May 3, 2006. Dr. Clemens Börsig was a member of the Management Board of Deutsche Bank AG until May 3, 2006. He was appointed member of the Supervisory Board by the court from May 4, 2006, until the end of the General Meeting on June 1, 2006, and elected by the Supervisory Board to be its Chairman. The General Meeting on June 1, 2006 elected him for the remainder of the term of office of the Supervisory Board. Subsequently, the Supervisory Board reelected him as its Chairman. All payments for his position on the Management Board were determined by the Chairman’s Committee without his involvement or influence on the decision. Dr. Börsig has declared that he would abstain from voting in his function as member of the Supervisory Board and its committees on all questions that relate to his former membership of the Management Board and could create a conflict of interest.
Klaus Funk was a member of the Supervisory Board until February 1, 2006. Peter Kazmierczak, who was first elected to the Supervisory Board in 2002 and resigned in 2003, followed him as his substitute for the remainder of the term of office. Margret Mönig-Raane and Dipl.-Ing. Albrecht Woeste were members of the Supervisory Board until June 1, 2006. Maurice Lévy was elected member of the Supervisory Board by the General Meeting on June 1, 2006, for the remainder of the Supervisory Board’s term of office. On June 2, 2006, Gerd Herzberg was appointed member of the Supervisory Board by the court for the remainder of the term of office. Professor Dr. Dr. h. c. Paul Kirchhof was a member of the Supervisory Board until July 15, 2006. As his successor, Dr. Theo Siegert was appointed by order of the court with effect from July 16, 2006, until the end of the Annual General Meeting 2007.
According to Section 5.4.2 of the German Corporate Governance Code, the Supervisory Board determined that it has what it considers to be an adequate number of independent members.
