The following qualified Supervisory Board committees were formed to increase the efficiency of the Board and to deal with complex issues.
Committee for Urgent Matters (Working Committee)
The Working Committee resolves on matters that require Supervisory Board approval but cannot be deferred to the next ordinary Supervisory Board meeting because of special urgency.
Komm.-Rat Dkfm. Klaus Stadler, Chairman
1st Substitute: Dr. Johann Sereinig
2nd Substitute: Mag. Alois Hochegger
Komm.-Rat Dr. Karl Skyba
1st Substitute: Dipl.-Ing. Guido Klestil
2nd Substitute: Hofrat Dkfm. Heinz Öhler
Franz Urban
1st Substitute: Heinz Neuhauser (until 31 August 2008)
Gerd Wiehart (starting 1 September 2008)
2nd Substitute: Peter Grimm
Audit Committee (Accounts Committee)
The Audit Committee (Accounts Committee) is responsible for the duties assigned under § 92(4a) of the Austrian Stock Corporation Act, namely:
1. monitoring the accounting process;
2. monitoring the effectiveness of the Company’s internal control system, internal auditing system, and risk management system;
3. monitoring the auditing of financial statements and consolidated financial statements;
4. examination and monitoring of the independence of the auditor of the financial statements (consolidated financial statements), particularly with respect to additional services provided for the audited company;
5. auditing of the annual financial statements and preparations for their approval, examination of the proposal for appropriation of profits, the management report and corporate governance report, and presentation of a report on the audit findings to the Supervisory Board;
6. 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;
7. preparing the Supervisory Board proposal for selection of the auditor of the financial statements (consolidated financial statements).
Komm.-Rat Dkfm. Klaus Stadler, Chairman
1st Substitute: Dr. Johann Sereinig
2nd Substitute: Mag. Alois Hochegger
Komm.-Rat Dr. Karl Skyba
1st Substitute: Dipl.-Ing. Guido Klestil
2nd Substitute: Hofrat Dkfm. Heinz Öhler
Franz Urban
1st Substitute: Heinz Neuhauser (until 31 August 2008)
Gerd Wiehart (starting 1 September 2008)
2nd Substitute: Peter Grimm
Committee for Managing Board Matters (Compensation Committee)
The Committee for Managing Board Matters deals with Managing Board personnel matters, including successor planning. The Committee for Managing Board Matters therefore also decides on the content of employment contracts with members of the Managing Board and their compensation.
Komm.-Rat Dkfm. Klaus Stadler, Chairman
Komm.-Rat Dr. Karl Skyba
Strategy Committee
The Strategy Committee works together with the Managing Board and, if necessary, experts that it consults, to prepare fundamental decisions that must then be decided on by the Supervisory Board as a whole.
Komm.-Rat Dkfm. Klaus Stadler, Chairman
1st Substitute: Dr. Johann Sereinig
2nd Substitute: Mag. Alois Hochegger
Komm.-Rat Dr. Karl Skyba
1st Substitute: Dipl.-Ing. Guido Klestil
2nd Substitute: Hofrat Dkfm. Heinz Öhler
Franz Urban
1st Substitute: Heinz Neuhauser (until 31 August 2008)
Gerd Wiehart (starting 1 September 2008)
2nd Substitute: Peter Grimm
The Company concluded no agreements with members of the Supervisory Board in 2008 that would have required approval from the Supervisory Board.
