PDF, 1.2 MB - Pfleiderer AG

6 being focused: being better
the new corporate strategy adopted in 2002
is the right starting point that will ensure the
company’s successful long-term growth in value.
Ladies and Gentlemen,
Dear Shareholders, Friends and Associates of Pfleiderer AG,
Fiscal 2002 saw the Pfleiderer AG undertake a major change in direction, successfully putting the
Company in a stronger position to grow in value. During the reporting period, and in accordance with
the legal and statutory obligations, the Supervisory Board was intensively involved in monitoring and
advising the Company’s management. The Supervisory Board was kept fully informed on all major
issues relating to the Company’s new strategic direction, as well as about the progress and effects of
the divestments undertaken. The Supervisory Board was also kept fully informed about business developments
in general, in what has been a very difficult operating environment. When the approval of
the Supervisory Board for decisions and measures taken by the Executive Board was required – in particular
for measures relating to financial and personnel planning and capital expenditure – the members
of the Supervisory Board carefully examined all matters to be resolved during their meetings, and
adopted appropriate resolutions on the basis of the written and oral information provided.
The Supervisory Board held four ordinary meetings in January, May, July and November 2002
respectively, during which the Executive Board reported in detail about the general state of the Company
and on current business developments. The Working Committee of the Supervisory Board met four