Supervisory Board committees
The Supervisory Board was regularly informed of the work carried out by its committees in 2008.
The Personnel Committee convened three times in the reporting period. Alongside examination of Executive Board remuneration and pension promises, attention was also given to long-term succession planning in the Executive Board.
The Audit Committee held three regular meetings in the financial year 2008. Representatives of the auditor were also present at its meetings. In the presence of the auditors and the Chairman of the Executive Board, the Audit Committee discussed the financial statements of MLP AG and the Group as well as the proposed appropriation of earnings. There were detailed consultations on relations with the auditor, proposals for electing an auditor, remuneration, audit assignment and monitoring independence. The Audit Committee received regular reports on the work of the internal audit and on legal and regulatory risks and risks to reputation.
In addition, the Nomination Committee of the Supervisory Board convened twice, in particular to prepare the proposal of candidates for the Supervisory Board for the representatives of the shareholders to the Annual General Meeting.