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DES GB2012 E

Corporate governance WORKING METHODS OF THE EXECUTIVE AND SUPERVISORY BOARDS The Supervisory and Executive Boards performed their statutory duties in financial year 2012 in accordance with the applicable laws and the Articles of Association. The strategic ori- entation of the Company was coordinated between the Executive Board and the Supervisory Board, and the progress of strategy implementation was discussed at regular intervals. The Execu- tive Board informed the Supervisory Board regularly, promptly and in detail of business developments and the risk situation. Detailed information on the main areas of focus of the Super- visory Board’s activities in the 2012 financial year can be found in its report on pages 14 to 19. In financial year 2012, there were no advisory or other contracts for work or services in existence between members of the Super- visory Board and the Company. T he Government Commission on the Ger- man Corporate Governance Code pub- lished the German Corporate Governance Code on 26 February 2002 and approved amend- ments and additions to individual recommenda- tions and suggestions, most recently on 15 May 2012. Going forward, the Government Commis- sion will continue to monitor the development of corporate governance in legislation and in practice, and will adapt the Code as needed. Deutsche EuroShop welcomes the German Cor- porate Governance Code produced by the Gov- ernment Commission. The Code not only creates a transparent legal framework for corporate management and control in Germany, but also documents generally accepted standards for good and responsible corporate leadership. INVESTOR RELATIONS { 114 } DES ANNUAL REPORT 2012