Supervisory Board Report
In the financial year 2008, the Supervisory Board invested much time and effort in dealing with the development of the company and performed its duties of supervision in their entirety. It regularly advised and monitored the Executive Board in its management of the company.
The election of new Supervisory Board members was on the agenda in the financial year 2008. Dr. h. c. Manfred Lautenschläger, Dr. Peter Lütke-Bornefeld, Johannes Maret and Dr. Claus-Michael Dill were appointed to the Supervisory Board as representatives of the shareholders at the MLP AG Annual General Meeting on May 16, 2008. Maria Bähr and Norbert Kohler were elected by employees in the MLP Group on April 16, 2008 as their representatives in the Supervisory Board.
Furthermore, during the course of the last financial year the Supervisory Board paid a great deal of attention to the economic development, financial situation and prospects of the company.
The Supervisory and Executive Boards met on numerous occasions to discuss business development, strategy and key events within the company. The Supervisory Board was directly involved in all decisions of fundamental importance to the company. The Executive Board provided the Supervisory Board with timely and comprehensive reports, both written and oral, on a regular basis and on all relevant issues related to corporate planning, strategic development, the business situation and the position and development of the Group as a whole, including the risk situation, risk management and compliance. The Supervisory Board was able to confirm the correctness of the company management by the Executive Board.
With approval of the Supervisory Board, in August 2008 the Executive Board decided to issue 9,799,152 new ordinary shares from authorised capital for cash contributions to the tune of € 123,763,290 and thereby increase the company’s share capital by € 9,799,152. With the cash funds collected, it was possible to once again significantly strengthen the position of MLP AG, enabling the company to get actively involved in the current consolidation in the financial services sector and permanently secure its independent consulting business model.
Having successfully set its strategy and increased its independence in the last few years, in 2008 MLP again strengthened its occupational pension provision operations, to which end it entered into a strategic partnership with TPC, one of Germany’s leading providers of industry solutions for occupational pension schemes. On February 29, 2008, MLP was ultimately able to acquire 100 % ownership of TPC.