DES GB 11 Finanzbericht englisch

Corporate 2011 Corporate GOVERNANCE only creates a transparent legal framework for corporate management and control in Ger- many, but also documents generally accepted standards for good and responsible corporate leadership. WorKINg mEthoDS oF thE EXECu- tIvE AND SuPErvISorY boArDS The Supervisory and Executive Boards per- formed their statutory duties in financial year 2011 in accordance with the applicable laws and the Articles of Association. The strategic orientation of the Company was coordinated between the Executive Board and the Super- visory Board, and the progress of strategy im- plementation is discussed at regular intervals. The Executive Board informed the Supervisory Board regularly, promptly and in detail of business de- velopments and the risk situation. Detailed in- formation on the main areas of focus of the Supervisory Board’s activities in financial year 2011 can be found in its report on pages 72 to 73. In financial year 2011, there were no advisory or other contracts for work or services in ex- istence between members of the Supervisory Board and the Company. ComPoSItIoN AND DIvErSItY The Supervisory and Executive Boards should be composed of members who possess the requisite expertise, skills and professional experience in the areas of real estate, retail, finance and accounting and are capable of exercising this office. The Supervisory Board and Executive Board consider themselves open to every qualified candidate regardless of gender or nationality. EXECutIvE boArD The Executive Board of Deutsche EuroShop manages the Company in accordance with the provisions of German company law and with its rules of procedure. The Executive Board’s duties, responsibilities and business procedures are laid down in its rules of pro- cedure and in its schedule of responsibilities. The chief management duties of the Executive Board are the determination of the Group’s strategic orientation and management of the Group, planning, and the establishment and implementation of risk management. The Executive Board of Deutsche EuroShop currently comprises two members. DThe Government Commission on the Ger- man Corporate Governance Code published the German Corporate Governance Code on 26 February 2002 and most recently ap- proved amendments and additions to indi- vidual recommendations and suggestions on 26 May 2010. Going forward, the Govern- ment Commission will continue to monitor the development of corporate governance in legislation and in practice, and will adapt the Code as needed. Deutsche EuroShop welcomes the German Corporate Governance Code produced by the Government Commission. The Code not at regular intervals. The Executive Board informed the Supervisory Board regularly, promptly and in detail of business de- velopments and the risk situation. Detailed in- Altmarkt-Galerie Dresden 68 DES Annual Report 2011 InVeStoR ReLAtIonS corporate governance

DES GB 11 Finanzbericht englisch

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