Committees
Topics relevant to the company are discussed and recommendations to be decided by the Supervisory Board are developed at all levels of Feintool International Holding.
Audit Committee
The current members of the Audit Committee are Christian Mäder (Chairman) and Alexander von Witzleben.
The Audit Committee submits draft proposals to the Board of Directors on the following issues:
- Coordinating external auditors; instructing the internal auditors
- Monitoring financial reporting and overseeing auditors (quarterly discussion of financial reporting with the CEO and CFO; monthly discussions between the Chairman of the Committee and the CFO; discussion of interim results with the CEO and CFO; discussion of annual financial statements with auditors)
- Analysing and assessing possible weak points in the financial reporting results and the internal control system (ICS)
- Assessing the functionality of the internal control system
- Proposing the commissioning of special audits to the Board of Directors
- Monitoring the company's credit, cash flow situation and business relationships with banks
- Selecting and proposing external advisors
For further information on this topic, please consult the Corporate Governance section of the current Annual Report.
Compensation and Nomination Committee
The current members of the Compensation and Nomination Committee are Alexander von Witzleben (Chairman) and Christian Mäder.
The Compensation and Nomination Committee submits draft proposals to the Board of Directors on the following issues:
- Laying down the principles to be followed in relation to compensation for the Board of Directors and Group Management
- Ensuring the termination provisions contained in the employment contracts of members of Group Management are commensurate with market conditions and provide protection for the company
- Verifying that compensation paid is in line with market rates and performance standards and proposing the level of compensation due in each case
- Verifying and authorizing any internal business between senior executives or persons closely associated with them and companies in the Feintool Group
You can find more information on this topic in the Corporate Governance section of the current Annual Report.