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ePaper created 2015-05-06, 08:22:31 | version 1.38.0
9HERAEUS | FINANCIAL REPORT 2014 | REPORT OF THE SUPERVISORY BOARD transactions and current events of importance for assess ing the situation and performance of the Group and its management, and he advised the Board of Management in its strategic decisions, in particular with regard to acquisition and divestment projects within the Group. Throughout the reporting period, the Supervisory Board comprehensively fulfilled its duty to monitor the Board of Management. Supervisory Board meetings Three meetings of the Supervisory Board took place in 2014. At its meeting on April 29, 2014, the Supervisory Board mainly discussed preparations for the shareholders’ meeting and, in the presence of the auditors, the single- entity and consolidated financial statements for 2013, including the proposal for the appropriation of profits, approving this proposal after thorough deliberation. The Board of Management also reported on the 2013 financial year and on the current financial year, which included a risk report. The meeting also saw Andreas Wolf elected to the Audit Committee for the period October 1, 2014 to December 31, 2014 as a replacement for Hans Ostermeier, who retired in October 2014. In the December 2014 meeting, the Supervisory Board then extended Mr. Wolf’s term on the Audit Committee to run until the end of his term on the Supervisory Board. In addition, the Supervisory Board appointed the firm KPMG AG Wirtschaftsprüfungsgesellschaft as the auditor for Heraeus Holding GmbH and auditor of the consolidated financial statements for 2014, subject to confirmation of this appointment by the shareholders’ meeting. In the Supervisory Board meeting on October 20, 2014, the Board of Management gave a detailed report on the plans to strategically realign the Group into eleven global business units from January 1, 2015, and in particular about the seven new global business units that would be formed from the business groups Heraeus Materials Technology GmbH & Co. KG and Heraeus Precious Metals GmbH & Co. KG. The Board of Management talked exten sively about the new focus on markets and customers and about the functional organization of the seven new global business units, Heraeus Chemicals, Heraeus Electronics, Heraeus Medical Components, Heraeus Metal Management, Heraeus New Businesses, Heraeus Performance Products, and Heraeus Photovoltaics. In addition, the Board of Management briefly explained that the other business groups (Heraeus Electro-Nite, Heraeus Medical, Heraeus Noblelight, and Heraeus Quarzglas) were also to be operated as global business units going forward. In its meeting on October 20, 2014, the Supervisory Board was notified that full-time works council member Andrea Bläser was to be appointed to the Supervisory Board by the courts as a substitute due to Hans Ostermeier’s departure from the Supervisory Board. The Supervisory Board sup ported this proposal. On November 12, 2014, Ms. Bläser was formally appointed by the courts as a member of the Supervisory Board with effect from December 1, 2014. The main item on the agenda of the Supervisory Board meeting on December 11, 2014 was the Heraeus Group’s capital expenditure and financial plan for the period 2015 to 2017, which was reviewed thoroughly and approved at this meeting. The Board of Management also reported on the financial year to date, once again including a risk report, and about the status of the realignment of the Group into eleven global business units, which at that point was virtually completed.