Report of the Supervisory Board
The Supervisory Board of ALTANA AG closely followed the work of the Management Board
again in 2016. The Supervisory Board dealt in depth with the situation and development of
the company as well as with various special issues. The Supervisory Board was regularly
informed by the Management Board through oral reports in meetings, supplemented by
documents on the respective agenda items, as well as through regular written reports. In
addition,
between Supervisory Board meetings, the Chairman of the Management Board informed
the Chairman of the Supervisory Board about significant developments and events,
and discussed pending or planned decisions with him. The Supervisory Board was involved in
all major company decisions.
Meetings of the Supervisory Board
In the 2016 fiscal year, the Supervisory Board held four regular meetings. At the meetings, the
economic situation and the development perspectives of the ALTANA Group, as well as
important business events, were discussed and deliberated on in detail. The Management
Board reported regularly to the Supervisory Board on the sales, earnings, and financial
development of ALTANA. Furthermore, the Supervisory Board repeatedly dealt in depth with
the strategy of ALTANA and its individual divisions. Other issues addressed by the Supervisory
Board included ALTANA’s Key Account Management, the efficiency program ALTANA X,
and the company’s investment in Landa Corporation. At its December meeting, the Supervisory
Board resolved to renew Dr. Christoph Schlünken’s Management Board contract for five
more years until October 31, 2022. At this meeting, the Supervisory Board also dealt extensively
with corporate planning for the next years and with the budget for 2017, which it
approved.
Meetings of the Committees
The Human Resources Committee met twice in the year under review. It dealt primarily
with issues pertaining to compensation and extending the Management Board appointment
of Dr. Schlünken. The Audit Committee also met twice in the year under review. In the
presence of the auditor as well as members of the Management Board, the Audit Committee
discussed the annual financial statements of ALTANA AG and the ALTANA Group. In addition,
it dealt with the statutory audit process mandating the auditor, the setting of audit fees,
monitoring the auditor’s independence, and the approval of non-auditing services of the
auditor. Furthermore, the Audit Committee addressed the identification and monitoring of
14 Report of the Supervisory Board