Main focus of advice and monitoring activities in 2014
The Supervisory Board met at five regularly convened meetings in financial year 2014 on 27 March, before and after the annual general meeting on 15 May, on 21 August and on 20 November 2014.
A central topic was implementing and adding to the strategy agreed in 2013 focusing on the following four key areas: upscaling broad-based growth, expanding and differentiating the range of products and services, developing advice and guidance formats, and enhancing performance and efficiency. The Board of Managing Directors kept us up to date on the various projects carried out in 2014, such as the new real-time trading platform and the “Bessere Geldanlage” (“Better financial investment”) offer.
Furthermore, the comdirect bank’s Board of Managing Directors kept us informed about the development of key indicators and their impact on the bank’s earnings situation, financial situation and assets. We also discussed the strategic further development of ebase and the B2B business line with the Board of Managing Directors.
As part of our deliberations, we obtained information on the market and competitive environment and the bank’s development on the basis of the medium-term planning. We additionally addressed the strategic agenda for the following year. Moreover, the Supervisory Board regularly examined the risk status of the bank, with the focus here on discussion of the overall risk strategy in line with the minimum requirements for risk management (MaRisk). Other issues dealt with by the Supervisory Board additionally included the draft agenda for the annual general meeting on 15 May 2014 and the proposals to the annual general meeting.
In addition to the ordinary meetings, the Supervisory Board adopted a number of further resolutions based on the recommendations of the Presiding Committee using the written circulation procedure and in an extraordinary meeting on 5 December 2014. Among other things, these related to
- the stipulation of the variable compensation component for the members of the Board of Managing Directors for financial year 2013,
- the stipulation of the target amount for the variable compensation component for the members of the Board of Managing Directors for financial year 2014,
- the acceptance of the resignation from the Board of Managing Directors of Dr Thorsten Reitmeyer with effect from the end of 31 December 2014.
Based on the recommendation of the Presiding Committee, at its ordinary meeting in November the Supervisory Board specified the criteria for assessing the variable compensation component for the Board of Managing Directors for financial year 2015.