Advising and overseeing the Board of Management 

The Supervisory Board again devoted close attention to the strategic focus and business performance of the Group in all areas in 2008. We discussed in detail the restructuring of the US express business and the sale of Deutsche Postbank AG. Other topics of particular significance were the effects of the financial crisis on the company’s transactions, the company’s participation in the capital increase of Deutsche Postbank AG, the progress made by our Roadmap to Value capital markets programme and personnel changes in the management of Deutsche Post AG.

All major decisions affecting the company were discussed in detail with the Board of Management, which informed us in a timely and comprehensive manner on all key issues relating to planning and business development. We received regular reports on the risk situation and risk management, major business transactions and projects in the individual divisions as well as on strategic measures and the company’s future direction. In particular, all measures requiring the consent of the Supervisory Board were discussed in depth. The Board of Management kept the chairman of the Supervisory Board continuously updated on all key transactions and major impending decisions, both at the Supervisory Board meetings and between meetings. We prepared our approval for business measures in the relevant committees. The chairs of the committees reported regularly on the committees’ work at the Supervisory Board meetings.

Nine meetings during the reporting period 

Five meetings were held in the first half of the year and four in the second half. No member of the Supervisory Board was absent from more than half of the meetings. At all of its meetings, the Supervisory Board concerned itself with issues of corporate strategy, the business performance of the divisions and risk management.

In a special meeting held on 18 February 2008, the Supervisory Board accepted the resignation of Dr Klaus Zumwinkel from his post as Chairman of the Board of Management and appointed Dr Frank Appel as the new Chairman of the Board of Management.

At the financial statements meeting held on 4 March 2008, we discussed and approved the annual and consolidated financial statements for 2007, following in-depth discussions between the auditors and the Finance and Audit Committee and the chairman of the Supervisory Board. We also reviewed the efficiency of the Supervisory Board’s work based on an updated questionnaire. Further topics involved the new appointments of Bruce Edwards and Hermann Ude as members of the Board of Management and the related adjustment of business responsibilities. The LOGISTICS Division was split into Global Forwarding, Freight, headed by Hermann Ude, and Supply Chain, Corporate Information Solutions, headed by Bruce Edwards. Responsibility for Global Mail was transferred to the MAIL Division, which is headed by Jürgen Gerdes. We also approved an increase in our stake in Williams Lea at this meeting.

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