Corporate Governance bei SAP
SAP is a German listed company, and our corporate governance is primarily aligned to the mandatory requirements of the law and to the Code, as amended from time to time. Moreover, SAP complies with further provisions that are relevant to it as a German company listed on the New York Stock Exchange (NYSE). These include the Corporate Governance Standards of the NYSE and the U.S. Sarbanes-Oxley Act.
Executive Board
At the time this annual report went to press, the SAP Executive Board had seven members. It is solely responsible for managing the Company. It has a duty to exercise its management powers in the interest of the Company and in pursuit of the sustained growth of corporate value. It discusses and agrees its strategy for the Company with the Supervisory Board, ensures compliance with the requirements of the law throughout the Group, and maintains appropriate risk management structures and risk controls.
Supervisory Board
The SAP Supervisory Board has 16 members who in
equal numbers represent the shareholders and the employees.
When candidates for election to the Supervisory
Board are selected, regard is had to the requirement that
they be persons with the necessary knowledge, competencies,
and relevant experience. At appropriate intervals,
normally every October, the Supervisory Board conducts
an investigation into the efficiency of its own work. Since
the term of office of the current Supervisory Board membership
only started at the end of the General Meeting of Shareholders on May 10, 2007, the next such investigation
was not conducted until February 2008. This was to
give the newly elected members a chance to make their
efficiency assessment on the basis of an adequate
number of meetings of the full Supervisory Board and
its committees.
Cooperation Between Executive Board and Supervisory Board
The Executive Board and Supervisory Board cooperate closely to the benefit of the Company. The Executive Board regularly provides to the Supervisory Board full and timely reports on all material matters of business planning and performance, including any deviations of actual business performance from plan, the risk situation, and risk management. The Supervisory Board has reserved to itself the approval of certain defined transactions of fundamental importance. For more information about the Executive and Supervisory Boards’ work together, and about the work of the Supervisory Board and its committees, see the section titled Report of the Supervisory Board.
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