The Supervisory Board is supported in its duties by four committees established by this body (Audit Committee, Personnel Committee, Nomination Committee, Mediation Committee). These committees are responsible for preparing the ground for Supervisory Board resolutions and examining issues subsequently to be addressed in plenary sessions. Furthermore, the Supervisory Board has delegated decision-making authority to the committees within specific areas.
With the exception of the Audit Committee, which is chaired by Supervisory Board member Hero Brahms, the committees are presided over by the Chairman of the Supervisory Board.
The Audit Committee convened on three occasions during the fiscal year under review. The main focus of its work was on examining the annual accounts and Group financial statements of Wincor Nixdorf AG and the budget for fiscal 2009/2010. Other issues addressed were the Company’s risk report and risk management policy, reporting by the Internal Audit and measures aimed at further extending the corporate compliance program.
During the year under review, the Nomination Committee convened on December 2, 2008, to prepare a proposal of the Supervisory Board to the Annual General Meeting on January 19, 2009, concerning the election of three shareholder representatives to the Supervisory Board.
There was again no need to convene the Mediation Committee during the fiscal year just ended.
