Annual Report Gorenje Group 2009

The Supervisory Board devoted special attention to the work stoppage that occurred in Gorenje on 15
September 2009. It took note of the reasons for the stoppage, and positively assessed the measures
taken by the Management Board, stressing the significance of open communication with all employees.
The Management Board was instructed to prepare a plan of measures aimed at bringing it as close as
possible to employees in order to reduce social distress, as well as protecting the Gorenje brand name
and its further development. The Supervisory Board further instructed the Management Board to
prepare a communication plan specifying the manner in which various contents would be presented to
the public in future, and to ensure social peace through negotiations with trade unions and
representatives of employees, taking into account the interests of all stakeholders. At one of the next
meetings, the Management Board informed the Supervisory Board on the course and conclusion of
negotiations and presented the agreement reached.
The Supervisory Board discussed the earnings of the Management Board and, on its proposal,
reduced them by ten percent alongside the introduction of a 36-hour work week in the beginning of
2009. In November, the Supervisory Board repeatedly reduced the earnings of Management Board
members on average by an additional twenty-five percent.
At the end of 2009, the Supervisory Board bound itself to carry out the following: if the conditions
related to the Company's business operations are not at least similar to those in the first half of 2008,
the Supervisory Board shall not propose the payment of incentive bonus to members of the
Supervisory Board for the year 2009. When approving the 2009 Annual Report, the Supervisory Board
did not, on the proposal of the Management Board, decide on the payment of incentive bonus to
members of the Management Board for the 2009 financial year as a sign of solidarity with employees in
a strained economic situation.
The Audit Committee of the Supervisory Board carried out its tasks in 2009 in the following
composition: Milan Podpecan, Chairman, Peter Ješovnik, M.Sc., Gregor Sluga, Drago Krenker, and
Mateja Vrankar. The committee devoted most of its attention to harmonising the materials for meetings
of the Supervisory Board with all relevant standards, taking into account the principle of consistent
reporting and similar issues. In 2009 the Audit Committee met at five meetings and discussed
periodical reports, internal audit in the parent company, the risk management system in the parent
company, and the issue of transfer prices in the Gorenje Group. It also conducted a meeting with the
representatives of the auditing company KPMG Slovenija, d.o.o. regarding pre-audit and audit
procedures in 2009.
ANNUAL REPORT
On 7 April 2010 the Management Board of the Company presented the audited Annual Report of
Gorenje, d.d. and the Gorenje Group for the year 2009 to the Supervisory Board for approval. The
Supervisory Board discussed the Annual Report at a meeting held on 16 April 2010.
The Annual Report of Gorenje, d.d. and the Gorenje Group for the year 2009 was audited by the
auditing company KPMG Slovenija, d.o.o.. The audit was also performed in all subsidiary companies of
the Gorenje Group. On 2 April 2010 the auditing company issued an unqualified opinion on the Annual
Report of Gorenje, d.d. and the Consolidated Annual Report of the Gorenje Group for the year 2009.
The Audit Committee of the Supervisory Board examined the 2009 Annual Report together with the
Auditor's Report and the Letter to the Management, and presented its comments and opinion in
connection therewith.
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Annual Report Gorenje Group 2009