Committees
The Supervisory Board may, in order to supervise the management of the company, inspect and examine the books and records of the company; the supervisory board may also commission individual members or, with respect to specific assignments, special experts, to carry out such inspection and examination.
Besides the management reports to the supervisory board regular, up-to-date and extensive on the affairs of the company. The text of section 90 of the German Stock Corporation act is:
§ 90 Reports to the Supervisory Board
(1) The management board shall report to the supervisory board on:
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intended business policy and other fundamental matters regarding the future conduct of the company's business (especially concerning budgeting, investments and personnel) ;
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the profitability of the company, in particular the return on equity;
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the state of business, in particular revenues and the condition of the company;
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transactions which may have a material impact upon the profitability of liquidity of the company.
In addition, reports to the chairman of the supervisory board shall be made on the occurrence of other significant developments; such significant developments shall also include circumstances concerning the business of an affiliated enterprise which become known to the management board and which may have a material impact upon the condition of the company.
The Supervisory Board has formed from its members 3 committees in accordance with § 9 of the Articles of Association: the Presidential Committee, the Audit Committee, and the Mediation Committee.
The Presidential Committee is responsible for deciding the service contracts and other contractural matters in relation to the Board of Management and the Supervisory Board. The Presidential Committee advises and decides on issues relating to corporate governance and issues recommendations on such issues to the extent Supervisory Board approval is required. Moreover, it assists and counsels the Chairman and Vice Chairman of the Supervisory Board. The Presidential Committee consists of Dr. Manfred Bischoff, Erich Klemm *), Dr. Manfred Schneider and Dr. Thomas Klebe *).
The Audit Committee is responsible for deliberating the interim accounts as well as the annual financial statements and the consolidated financial statements of Daimler AG. The members of the Audit Committee are Dr. Clemens Börsig Erich Klemm *), Stefan Schwaab *), and Bernhard Walter.
(Employee representatives are marked *)According to a resolution of the Supervisory Board, the Committee is entitled to instruct the independent auditor and to determine the emphasis of the auditing. In addition to that, the Committee gives recommendations to the Supervisory Board on the appropriation of net income, financial measures and the like.
The Mediation Committee was established by the Supervisory Board pursuant to its obligations under § 31 (3) Co-Determination Act and is composed of Dr. Manfred Bischoff, Erich Klemm *), Dr. Manfred Schneider, and Dr. Thomas Klebe *).“In compliance with the German Corporate Governance Code the supervisory board has in addition established a Nomination Committee. The committee´s task is to propose candidates representing the shareholders for election to the supervisory board. The nomination committee is exclusively composed of supervisory board members representing the shareholders. The members of the nomination committee are Dr. Manfred Bischoff, Dr. Manfred Schneider and Lynton R. Wilson. The nomination committee meets if required.
