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Corporate Governance B GOVERNANCE ORPORATE CORPORATE C GOVERNANCE B99 — 126 B CORPORATE GOVERNANCE 101 REPORT OF THE SUPERVISORY BOARD 105 SUPERVISORY BOARD 105 Members of the Supervisory Board 105 Committees of the Supervisory Board 106 BOARD OF MANAGEMENT 108 MANDATES 108 Mandates held by the Board of Management 108 Mandates held by the Supervisory Board 109 CORPORATE GOVERNANCE REPORT 115 Remuneration report Corporate Governance — REPORT OF THE SUPERVISORY BOARD 101 REPORT OF THE SUPERVISORY BOARD WULF VON SCHIMMELMANN Chairman DEAR SHAREHOLDERS, In financial year 2015, Deutsche Post DHL Group’s “Strategy 2020: Focus. Connect. Grow.” paved the way for the company’s long-term success in order to further develop its position as a world leader in logistics. The Supervisory Board concentrated on the implementation of “Strategy 2020” and on the current results in the context of the global economic situation. The Board of Management provided the Super- visory Board with information about the proposed business policy, planning, the profitability of the company and Group, performance as well as key business transactions in a timely manner. The Chairman of the Supervisory Board was also kept abreast of developments between meetings. Measures requiring the consent of the Supervisory Board were prepared in advance by the relevant committees. All members attended more than half of the meetings of the plenary and committees to which they belong. The over- all attendance rate exceeded 94 %. Individual attendance figures can be found on page 112. Main topics discussed in the plenary meeting The Supervisory Board met for eight plenary meetings in total, five in the first half of the year and three in the second half. We held an extraordinary Supervisory Board meeting on 11 February 2015 to discuss strategy in the Post - eCommerce - Parcel division. The annual and consolidated financial statements and the management reports for 2014 were dis- cussed in detail and approved at the financial statements meeting on 10 March 2015. The meeting was also attended by the auditors. After a thorough review, we endorsed the Board of Management’s proposal for the appropriation of the net retained profit for financial year 2014. The Supervisory Board also approved the renewal of Ken Allen’s mandate and contract for a further five years. The Board of Manage- ment provided a detailed report on, amongst other things, the impact of the Global Forwarding trans- formation programme within the division and the Group and the associated challenges. The report was followed by a discussion. The findings of the efficiency review examining the work of the Supervisory Deutsche Post DHL Group — 2015 Annual Report 102 Board were presented at the same meeting, as were the Supervisory Board’s proposed resolutions for the 2015 Annual General Meeting (AGM). All of the resolutions proposed were adopted with clear majorities at the AGM on 27 May 2015. On 27 April 2015, we held an extraordinary Supervisory Board meeting to accept Roger Crook’s resignation from the Board of Management. Until a new board member is appointed for the Global Forwarding, Freight division, CEO Dr Frank Appel has agreed to take over his tasks in a dual role. The sale of our shares in Sinotrans Ltd. was approved using the written procedure on 18 May 2015. Immediately after the Deutsche PostAG AGM on 27 May 2015, the Supervisory Board re-appointed Roland Oetker as a member of the Executive Committee, Personnel Committee and Mediation Com- mittee. As a member of the Executive Committee, Mr Oetker is also automatically a member of the Nomination Committee. Details of the current committee members can be found on page 105. The Super visory Board also discussed the Group’s pension obligations. The Supervisory Board meeting on 23 June 2015 included an in-depth discussion of developments in the Global Forwarding business unit and the status of the transformation programme. The meeting also considered whether Board of Management remuneration was appropriate. Independent experts have reviewed the remuneration system and remuneration paid to individuals and have confirmed that the system is suitable and consistent with market rates. The annual closed Supervisory Board meeting was held in September. Internal and customer managers gave presentations on selected topics. Discussions with the Board of Management focused on the progress made in implementing “Strategy 2020” and future challenges. In the Supervisory Board meeting on 14 September 2015, we discussed the gender quotas for the Super visory Board and Board of Management. We have set a target ratio of 1 : 7 for women on the Board of Manage ment, to be achieved by the end of the 2018 AGM, after which the target will rise to 2 : 8 by the end of the Annual General Meeting in 2021. The deadline for achieving the first target is 30 June 2017. In the extra ordinary Supervisory Board meeting on 28 October 2015, the transformation programme and the future course for the business-centric IT renewal plan in the Global Forwarding business unit were examined. On 9 December, at the last meeting of the Supervisory Board in 2015, we approved the 2016 business plan after extensive discussions and set the Board of Management’s performance targets for 2016. In addition, a share capital increase was resolved upon for the purpose of financing a share buy-back to settle share-based payments due to executives in 2016. We also examined the new recommendations of the German Corporate Governance Code (DCGK). We expanded the targets for the composition of the Supervisory Board to include the general principle that members should not serve more than three full terms of office. We confirmed that we have complied with the recommendations of the Government Commission as amended on 24 June 2014 since issuance of the Declaration of Conformity in Decem- ber 2014 and intend to comply with all recommendations of the DCGK as amended on 5 May 2015 in the future. We also had an in-depth discussion again on business developments in the Global Forwarding, Freight division. Careful preparatory work by the committees The Supervisory Board committees prepared thoroughly for plenary meeting discussions and decisions, thus ensuring informed consultations in these meetings. The Executive Committee met five times during the year under review. Regular agenda items included matters regarding the Board of Management and preparations for the Supervisory Board meetings. Detailed discussions were held on the subject of Roger Crook’s resignation from the Board of Manage- ment, whether Board of Management remuneration was appropriate, and the gender quotas for the Super visory Board and Board of Management. Deutsche Post DHL Group — 2015 Annual Report Corporate Governance — REPORT OF THE SUPERVISORY BOARD 103 The Personnel Committee met on four occasions. Items for discussion included increasing the num- ber of women in executive positions, the strategic priorities for Human Resources, personnel develop- ment, enhancing the Group-wide “Certified” initiative, which promotes employee commitment and changes in corporate culture, and the annual Employee Opinion Survey. The Finance and Audit Committee met seven times. Both Stefan Schulte, Chair of the Finance and Audit Committee, and Simone Menne, a member of the Finance and Audit Committee, have the account- ing and auditing expertise required under the Aktiengesetz (AktG – German stock corporation act). At the March meeting, the committee examined the annual and consolidated financial statements for 2014 and recommended that the Supervisory Board approve the statements. The auditors attended the meeting and gave a detailed presentation on their findings regarding the key audit priorities for 2014 as defined by the Committee as well as making specific recommendations based upon their findings. The March meeting also adopted the resolutions proposed to the Supervisory Board for inclusion on the agenda of the AGM. Key Group risk management factors were also examined during the meeting as planned. Fol- lowing the AGM, the Finance and Audit Committee engaged the auditors to audit the 2015 annual and consolidated financial statements and the interim financial report for the first half of the year. The- Com mittee also defined the key audit priorities. The Committee discussed the reviewed quarterly and half-year interim reports together with the Board of Management and the auditors prior to publication. The May meeting concentrated on the Group’s pension obligations. On 17 June 2015, the Finance and Audit Committee discussed the status of the transformation programme in the Global Forwarding, Freight division as well as the findings of internal audits. In the meeting on 8 September 2015, the Finance and Audit Committee examined the internal control and risk management system. The Chief Compliance Officer also presented a detailed report on compliance, which focused primarily upon enhancing compliance organisation and management. On 3 December 2015, the Finance and Audit Committee meeting concentrated on the Group business plan for 2016 and a share capital increase in order to finance a share buy-back to settle share-based payments due to executives in 2016. The Committee recommended that the Supervisory Board approve the proposals. The Committee discussed the Group’s performance and the internal control and risk manage ment system at regular intervals during the year. The Strategy Committee met five times in 2015. In addition to the sale of the company’s shares in Sinotrans Ltd., the Committee discussed the business units’ strategic positions in their respective market segments and the implementation of “Strategy 2020”. The Committee focussed upon the performance of the Global Forwarding business unit, the associated business-centric IT renewal and the performance of the eCommerce - Parcel business unit. The Nomination Committee met once to discuss nominations for the 2015 AGM and approve the recommendation to the Supervisory Board to re-elect Roland Oetker as a member of the Supervisory Board. The Mediation Committee formed pursuant to section 27 (3) of the Mitbestimmungsgesetz (German Co-determination Act) did not meet in the year under review.
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