Annual Report 2012 - Sixt AG

PROF. DR.
GUNTER THIELEN
(born 1942), Chairman of
the Supervisory Board
of Sixt Aktiengesellschaft
since 2008.
6
REPORT OF THE SUPERVISORY BOARD
General
In 2012, the Supervisory Board of Sixt Aktiengesellschaft duly performed the duties incumbent on
it according to law and the Articles of Association. It dealt in detail with the Company's and the
Group's situation and regularly advised the Managing Board in its corporate management duties.
Four Supervisory Board meetings were held during 2012 in compliance with the legally prescribed
frequency of two meetings per calendar half-year.
In accordance with its requirements the Managing Board informed the Supervisory Board regularly,
promptly and comprehensively about the company’s position, both in written and verbal form.
For this purpose, the Managing Board prepared a quarterly written report that contains, among
other things, detailed information on the economic and financial position of Sixt Aktiengesellschaft
and its subsidiaries in Germany and abroad. It explained the reports at the regular meetings
of the Supervisory Board, where the Supervisory Board’s discussions with the Managing Board
focused in particular on the development of business, planning and corporate strategies. The
Supervisory Board was always involved in decisions of significant importance for the company
and the Group.
In the year under review the Supervisory Board carefully examined the reports and draft resolutions
submitted by the Managing Board and discussed them in detail during its meetings. Apart from
the documents presented it was not necessary for the Supervisory Board to consult additional
company documents.
Outside the meetings, the members of the Supervisory Board were also in regular contact with
the Managing Board, especially the two chairmen of both Company bodies. Thanks to this intensive
dialogue, the Supervisory Board was informed in due time of current business developments and
significant transactions. The provisions of the German Corporate Governance Code and of the
legal stipulations on stock corporations governing the reporting duties by the Managing Board to
the Supervisory Board were consistently observed.
The Supervisory Board generally passes resolutions at physical meetings; but it can also arrive at
decisions in telephone conferences or between the meetings by way of written circulars. The
possibility to cast a vote by telephone or in writing was used as required during the financial year.
The Supervisory Board of Sixt Aktiengesellschaft does not establish any committees, the reason
being that the Supervisory Board consists only of three members, and the working efficiency is
not expected to increase by the formation of additional committees.
Key topics in 2012
At the 2012 meetings, the Supervisory Board received comprehensive information from the
Managing Board on all key questions relating to current business development, corporate strategy,
the risk situation, risk management, the entrepreneurial control systems and the financing
structure of Sixt Aktiengesellschaft and the Sixt Group. The Managing Board attended all of the
Supervisory Board’s meetings. The Managing Board outlined to the Supervisory Board, among
other things, current revenue and earnings developments of the Sixt Group and provided detailed
information about the business performance of the individual Business Units.