Dr. Klaus-Jürgen Schmieder, Chairman of the Supervisory Board of ALTANA AG
Meetings of the Committees
The Human Resources Committee met thrice in the year under review. At the meetings,
it dealt with the reappointment of Mr. Babilas as Chairman of the Management Board and
Labor Director and the corresponding extension of his contract, as well as with issues
relating to Management Board compensation, in particular the change to the compensation
system, which was subsequently resolved by the Supervisory Board. The Audit Committee
met twice during the year under review and reported regularly to the Supervisory Board. 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 moni-
toring of risks in the Group, the Group’s internal auditing activities, ALTANA’s Compliance
Management System, as well as the good corporate governance, in particular the amendments
to the German Corporate Governance Code and the German Stock Corporation Act
by implementing the Second Shareholder Rights Directive (ARUG II). The Mediation Committee,
established in accordance with section 27 (3) of the German Codetermination Act, did
not convene in the 2019 fiscal year.
Report of the Supervisory Board 17