The following qualified Supervisory Board committees were formed to increase the efficiency of the Supervisory Board and deal with complex issues:
Committee for Urgent Matters (Working Committee)
The Committee for Urgent Matters (Working Committee) decides on matters that require Supervisory Board approval but cannot be deferred to the next ordinary Supervisory Board meeting because of particular urgency.
Wolfgang Ruttenstorfer
1st deputy member: Johann Sereinig
2nd deputy member: Alois Hochegger
3rd deputy member: Reinhard Ortner
Karl Skyba
1st deputy member: Friedrich Stara
2nd deputy member: Heinz Öhler
3rd deputy member: Reinhard Ortner
Audit Committee (Accounts Committee)
The Audit Committee (Accounts Committee) is responsible for the duties assigned by § 92(4a) of the Austrian Stock Corporation Act, namely:
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Monitoring the accounting process;
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Monitoring the effectiveness of the Company’s internal control system, internal auditing system and risk management system;
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Monitoring audits of the financial statements and consolidated financial statements;
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Examination and monitoring of the independence of the financial statement auditor (consolidated financial statement auditor), in particular with respect to additional services provided for the audited company;
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Auditing of the annual financial statements and preparations for their approval, examination of the proposal for appropriation of profits, management report and corporate governance report, and presentation of a report on the audit findings to the Supervisory Board;
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Auditing of the consolidated financial statements and Group management report, and presentation of a report on the audit findings to the Supervisory Board of the parent company;
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Preparation of the Supervisory Board proposal for choosing the financial statement auditor (consolidated financial statement auditor).
Wolfgang Ruttenstorfer
1st deputy member: Johann Sereinig
2nd deputy member: Alois Hochegger
3rd deputy member: Reinhard Ortner
Karl Skyba
1st deputy member: Friedrich Stara
2nd deputy member: Heinz Öhler
3rd deputy member: Reinhard Ortner
Committee for Managing Board Matters (Compensation Committee)
The Committee for Managing Board Matters (Compensation Committee) deals with Managing Board personnel matters. The Committee for Managing Board Matters therefore decides on the terms of employment contracts with members of the Managing Board and their compensation, and examines remuneration policies at regular intervals.
Wolfgang Ruttenstorfer
Karl Skyba
Strategy Committee
The Strategy Committee works together with the Managing Board and, as appropriate, with experts that it consults, to prepare fundamental decisions that must then be decided on by the Supervisory Board as a whole.
Wolfgang Ruttenstorfer
1st deputy member: Johann Sereinig
2nd deputy member: Alois Hochegger
3rd deputy member: Reinhard Ortner
Karl Skyba
1st deputy member: Friedrich Stara
2nd deputy member: Heinz Öhler
3rd deputy member: Reinhard Ortner
The Company did not enter into any agreements with members of the Supervisory Board in 2011 that would have required Supervisory Board approval.
