Bankgesellschaft is focussing on core business - Landesbank Berlin

14
MANAGEMENT BUSINESS AREAS SHARE MANAGEMENT REPORT FINANCIAL STATEMENTS
Report of the Superv<strong>is</strong>ory Board
The Superv<strong>is</strong>ory Board ra<strong>is</strong>ed no objections following the final results of its examination, and approved the
annual financial statements of the AG and the Group as at December 31, 2003 in its meeting on May 16, 2004.
The annual financial statements are thus approved pursuant to section 172 subsection 1 clause 1 of the
German Stock Corporation Act.
The Superv<strong>is</strong>ory Board examined the Board of Management’s report on relations with affiliated companies
for the 2003 financial year. Neither th<strong>is</strong> examination nor the audit performed by the auditors gave r<strong>is</strong>e to
any objections.
The auditors’ report on th<strong>is</strong> contains the following audit opinions: “Based on an audit and assessment
performed in accordance with professional standards, we hereby confirm that
1. the facts stated in the report are correct
2. the Company’s contribution to the legal transactions l<strong>is</strong>ted in the report was not unreasonably high
3. there are no circumstances regarding the measures l<strong>is</strong>ted in the report that would suggest
an essentially different assessment from that made by the Board of Management.”
The Superv<strong>is</strong>ory Board does not ra<strong>is</strong>e any objections to the statement made by the Board of Management
at the end of the report on relations with affiliated companies for the 2003 financial year.
Personnel
The following personnel-related changes occurred in the composition of the Board of Management and
the Superv<strong>is</strong>ory Board:
As already mentioned in the 2002 Superv<strong>is</strong>ory Board report, Mr Uwe Kruschinski was appointed as an
ordinary member of the Bank’s Board of Management with effect from March 10, 2003; he <strong>is</strong> responsible
for lending (market outcome area) in the Group.
Mr Hubert Piel resigned from the Group at h<strong>is</strong> own request and on mutually amicable terms with effect
from March 31, 2003.
During the course of the integration of Berliner Bank into Landesbank Berlin, Dr. Johannes Evers resigned
from h<strong>is</strong> position on the Board of Management at <strong>Bankgesellschaft</strong> Berlin AG on November 30, 2003.
Dr. Evers remains a member of the Board of Management at Landesbank Berlin.
In addition, the Superv<strong>is</strong>ory Board reached a joint agreement with Mr Norbert Pawlowski that h<strong>is</strong> appointment
<strong>is</strong> to end on June 30, 2004 in accordance with h<strong>is</strong> contract.