2011 annual report - ALNO

14 To our shareholders | Report of the Supervisory BoardReport of the Supervisory BoardHenning GieseckeChairman of the Supervisory BoardIn the year under review, the Supervisory Board of ALNOAktiengesellschaft (ALNO AG) duly exercised the dutiesand responsibilities incumbent upon it in accordance withstatutory regulations, the Articles of Incorporation and therules of procedure. It devoted its attention to the company'sposition, continuously monitoring and advising theBoard of Management in the process.The Board of Management provided the Supervisory Boardwith regular, timely and comprehensive written and oralreports on all aspects of fundamental significance for theGroup. Above all, the Supervisory Board discussed theBoard of Management's reorganization plans, the corporateplanning, ongoing development of business, the company'sstrategic further development, its risk position and its riskmanagement. We were kept abreast of individual developmentsdiverging from the planning by the Board of Manage-ment. The company's strategic orientation was coordinatedwith the Supervisory Board and the Board of Managementreported regularly on the progress made in implementingthe strategy. The Supervisory Board was involved in alldecisions from an early stage onwards.Outside of these meetings, the Chief Executive Officeralso regularly informed the Chairman of the SupervisoryBoard with regard to the company's current position anddevelopment, its risk position and other significant developments.All developments requiring the consent of the SupervisoryBoard in accordance with statutory regulations, theArticles of Incorporation and the rules of procedure werealso considered and decided by the Supervisory Board.It also considered individual transactions of importance.