Topics discussed by the Supervisory Board
The Supervisory Board’s first meeting in the reporting period was held on February 23, 2018. Following a detailed examination, we approved the consolidated financial statements and the annual financial statements of Volkswagen AG for 2017 prepared by the Board of Management. We examined the combined management report, the combined separate nonfinancial report for 2017 and the Report by the Board of Management on Relationships of Volkswagen AG with Affiliated Companies in Accordance with Section 312 of the AktG (dependent company report). Upon completion of our examination of the dependent company report, we came to the conclusion that there were no objections to be raised to the concluding declaration by the Board of Management in the dependent company report. Other agenda items included the current state of affairs with respect to the diesel issue and the agenda for the 58th Annual General Meeting of Volkswagen AG, particularly the Supervisory Board’s proposed resolutions.
The Supervisory Board meeting on April 12, 2018 focused on the enhancement of the Volkswagen Group management structure. In this context, we also resolved on changes in the composition of the Board of Management of Volkswagen AG. Furthermore, we concerned ourselves with the strategic focus of Volkswagen Truck & Bus GmbH (now TRATON SE) and discussed the current state of affairs with respect to the diesel issue.
The Supervisory Board held another meeting on May 2, 2018. The main items on the agenda were the preparation of the 58th Annual General Meeting of Volkswagen AG held on May 3, 2018 and the current state of affairs with respect to the diesel issue.
The principal topic of discussion at the Supervisory Board meeting on June 13, 2018 was the administrative fine order issued by the public prosecutor’s office in Braunschweig against Volkswagen AG in connection with the diesel issue.
The next Supervisory Board meetings were held on June 18 and 19, 2018. The main points of discussion at both meetings were issues relating to the composition of the Board of Management of Volkswagen AG; at the meeting held on June 18, 2018, we also dealt with the current state of affairs with respect to the diesel issue.
The Supervisory Board held two further meetings on July 9 and 23, 2018, which likewise addressed the composition of the Board of Management of Volkswagen AG; the issues discussed at the meeting on July 9, 2018 also included the current state of affairs with respect to the diesel issue.
The agendas of the Supervisory Board meetings on September 17 and 28, 2018 included the current state of affairs with respect to the diesel issue and other steps relating to the corporate structure and capital market readiness of TRATON AG (formerly Volkswagen Truck & Bus GmbH, now TRATON SE) as well as information on management remuneration and matters relating to the Board of Management.
At our meeting on October 2, 2018, we again addressed issues relating to the composition of the Board of Management of Volkswagen AG.
The main topic of discussion at the Supervisory Board meeting on October 16, 2018 was the administrative fine order issued by the public prosecutor’s office in Munich II against AUDI AG in connection with the diesel issue.
On October 25, 2018, the Supervisory Board met again to discuss strategic issues in connection with TRATON AG (now TRATON SE).
At the Supervisory Board meeting on November 16, 2018, we discussed in detail the Volkswagen Group’s investment and financial planning for the period from 2019 to 2023. The meeting also focused on strategic issues, including the utilization of production sites and the current state of affairs with respect to the diesel issue. We also submitted the annual declaration of conformity with the Code together with the Board of Management. Moreover, we adopted an information policy to provide the Board of Management with detailed guidance on reporting requirements to the Supervisory Board.
In the reporting period, we voted in writing on matters such as the establishment of a branch of Volkswagen AG in Malaysia and on issues relating to the composition and remuneration of the Board of Management of Volkswagen AG.