The Executive Committee met four times during the year under review. The agenda focused primarily on Board of Management and Supervisory Board business, such as the reappointment of Board of Management members and the remuneration and retirement pensions for the Board of Management.
The Personnel Committee also met four times, dealing mainly with the employee opinion survey, strategic development projects in the area of human resources, the executive remuneration structure, the objectives and structure of the subsidiary First Mail, corporate health management and the Group’s commitment to education.
The Finance and Audit Committee met eight times, with meetings chaired by Hero Brahms. Hero Brahms, the committee’s chairman, is a financial expert pursuant to section 100 (5) and section 107 (4) of the Aktiengesetz (AktG – German stock corporation act). At its March meeting, the committee examined the annual and consolidated financial statements for 2009. The auditors attended this meeting. Following the Annual General Meeting (AGM), the Finance and Audit Committee hired the auditors to perform an audit of the 2010 annual and consolidated financial statements and the focal points of the audit were also determined. The auditors were likewise charged with reviewing the quarterly financial reports and the interim financial report for the first half of the year. The quarterly financial reports and the interim financial report for the first half of the year were discussed by the committee together with the Board of Management and the auditors.
The committee also dealt at regular intervals with the Group’s business development and the internal control and risk management system. Discussions related above all to risk management across the Group together with the main risk factors for the Group. The committee discussed compliance organisation and compliance management, as well as the findings of the reviews carried out by Internal Audit. It also approved the Audit Plan 2011. With regard to accounting, the committee discussed with the auditors the main features of the internal control system and the risk management system. Co-operation with the auditors was also discussed in detail.
The Nomination Committee met once in 2010 and recommended that the Supervisory Board propose the re-election of Roland Oetker to the AGM.
The chairs of the committees reported on the committees’ deliberations in the subsequent plenary meetings.
There were no meetings of the Mediation Committee, which must be formed pursuant to section 27 (3) of the Mitbestimmungsgesetz (German co-determination act).