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Address by the Chairman of the
Supervisory Board of KD Holding
In its third year in office, the Supervisory Board continued
to actively monitor the company’s operations. There were
no changes in the Board’s composition. We were regularly
informed about the company’s operations at five regular
and two correspondence sessions. By being familiar with
the work of the Management Board and its decisions and
through discussions and initiatives, the Supervisory Board
performed its corporate governance role consistently and
responsibly, in accordance with the capacities and duties
prescribed by the law.
We paid particular attention to the professional
supervision of operations, the risk management system
and the realisation of KD Holding’s strategies. We
regularly monitored the operations of the KD Holding
Group’s companies abroad, focusing primarily on the
expansion of life insurance activities on the markets of
South Eastern Europe. Sustained development plays
an important role in the company’s long-term strategy.
Therefore, the Supervisory Board initiated and supported
such development activities. Based on the resolution of
the General Meeting of Shareholders of 30 August 2007,
the Supervisory Board approved the recommendations
regarding the remuneration of its members.
Last year, the company underwent a reorganisation and
began introducing division-based operations which will
facilitate more efficient and transparent operations. Group
companies also took significant steps to improve and
develop their approach to customers. This is reflected
by the favourable results in key areas of operations,
the management of investment funds, private wealth
management and in the life insurance sector. With its
approval, the Supervisory Board demonstrated its full
support for the project to develop banking services. The
Group began actively implementing the project last year.
Banking services will compliment existing insurance
and financial products, further spurring the growth and
development of the KD Holding Group. Real estate
projects will also play an important role in the future.
Our results indicate that the Management Board and
co-workers fulfilled the company’s plans and managed
the company’s operations in accordance with its
long-term strategic policies. The Supervisory Board is
therefore justifiably satisfied with the achievements of KD
Holding and the entire Group in 2007.
In the future, the Group will face new challenges such as
penetrating the markets of Central, Southern and Eastern
Europe and strengthening its market position in Slovenia.
The Supervisory Board will support the Group in these
activities in accordance with its competencies.
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Aleš Vahčič, PhD