Annual Report 2009/10 Excellence in Retailing - Douglas Holding

Dr. Dr. h.c. Jörn Kreke, Chairman of the Supervisory Board
Human resource issues
1. In the 2009/10 fiscal year, Ms Anke Giesen undertook
her duties as a Member of the Executive Board
on November 1, 2009, and is responsible for the areas
of Human Resources and Legal.
2. Ms Malene Volkers, Trade Union Secretary, resigned
from her position on the Supervisory Board
as per the end of the Annual Shareholders’ Meeting
on March 24, 2010. Mr Johann Rösch, Trade Union
Secretary ver.di, was appointed effective April 28,
2010 as the new employee representative on the Supervisory
Board.
3. One Supervisory Board member participated in
less than half of the Supervisory Board meetings
due to illness.
Auditors
In accordance with a vote at the Annual Shareholders’
Meeting, the Supervisory Board appointed
Susat & Partner oHG Wirtschaftsprüfungsgesellschaft,
Hamburg, in August 2010 to audit the separate
and consolidated annual financial statements for the
2009/10 fiscal year. Prior thereto, the extent and focus
of the audit had been defined by the Audit Committee.
The accounting and separate financial statements
of DOUGLAS HOLDING AG, the consolidated financial
statements for the 2009/10 fiscal year as well as
the combined management report covering both the
Group and DOUGLAS HOLDING AG, were audited by
the auditors, concluded that they comply with legal
DOUGLAS HOLDING AG 9
Mission Statement
Letter to the Shareholders
Executive Board
Corporate Governance
Report of the Supervisory Board
DOUGLAS Share
Impressions
Human Resources
requirements and the company statutes and issued
an unqualified audit report.
On December 7, 2010, the Audit Committee joined
the Executive Board to hold full discussions with the
auditors on the audit findings, risk management system
and organization matters of the Group’s subsidiaries.
The auditors were party to the discussions on
the agenda items relating to their work at the Supervisory
Board’s balance sheet meeting on December 8,
2010, where they also reported on the principal findings
of the audit and answered questions. Copies of
the auditor’s reports were presented to the Supervisory
Board. The Supervisory Board approved the findings
of the audit; no objections were raised.
Annual financial statements of DOUGLAS
HOLDING AG and the Group
In accordance with legal obligations, the Supervisory
Board conducted a review of the separate and
consolidated financial statements, the combined
management report of the Group and DOUGLAS
HOLDING AG, as well as the proposed appropriation
of profits – all of which had been submitted in good
time – and gave its approval in writing. The annual
financial statements are therefore deemed adopted
pursuant to Section 172 of the German Stock Corporation
Law (AktG). The release of the consolidated financial
statements was approved on January 10, 2011.
The Supervisory Board approved the proposal for the
appropriation of profits as submitted by the Executive
Board, including a dividend payout of 1.10 EUR
per dividend-bearing share for the 2009/10 fiscal year.
The Supervisory Board would like to thank the Executive
Board, the management and all the employees
of the DOUGLAS Group in Germany and abroad
for their impressive commitment and successful work
achieved under challenging economic conditions in
the 2009/10 fiscal year.
Hagen, January 2011
On behalf of the Supervisory Board
Dr. Jörn Kreke
Chairman