Report of the Supervisory Board
The Supervisory Board of ALTANA AG, carrying out the functions stipulated by law and the
Articles of Association, closely followed the work of the Management Board again in 2018.
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 about the respective agenda items through presentations and oral
reports in meetings. The Supervisory Board also regularly received additional written reports.
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 2018 fiscal year, the Supervisory Board held four regular meetings and one constitutive
meeting. 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. In addition to regular reporting on ALTANA’s sales, earnings, and financial devel-
opment, the Supervisory Board dealt in depth with the strategy of ALTANA and its individual
divisions. Furthermore, the Supervisory Board dealt with ALTANA’s Digital Transformation,
the Group’s IT strategy, as well as personnel development and projects of the ALTANA Institute.
The Supervisory Board also accompanied ALTANA’s further investments in the Israeli Landa
Corporation of 100 million U.S. dollars. At its December meeting, the Supervisory Board dealt
extensively with corporate planning for the coming years and with the budget for 2019,
which it approved. At the constitutive meeting, which was held following the Ordinary Annual
General Meeting in March of 2018, members of the Supervisory Board were appointed or
reappointed to different committees or as deputy Supervisory Board chairpeople.
Meetings of the Committees
The Human Resources Committee met thrice in the year under review. It dealt primarily with
issues pertaining to compensation. The Audit Committee met twice in the 2018 fiscal year.
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
16 Report of the Supervisory Board