AmazonScience/document-haystack

1the Audit and Risk Committee and following an in-depth discussion with representatives of 2the statutory auditor KPMG AG Wirtschaftsprüfungsgesellschaft, Berlin (KPMG), we 3unanimously approved the Annual Financial Statements as well as the Consolidated Financial 4Statements. The review of the Dependency Report and the Audit Report of the statutory 5auditor did not lead to any objections. In addition, we concurred with the Executive Board’s 6proposal for the appropriation of distributable profit and approved the Report of the 7Supervisory Board.8At our meeting on 20 April 2023, we dealt in particular with the preparation of the Annual 9General Meeting, which took place on 15 June 2023, and approved the proposals for the 10agenda, including the submission of the Compensation Report to the Annual General Meeting 11for approval. Taking into account the recommendations of the Nomination Committee and 12legal requirements, the Supervisory Board decided to nominate the shareholder 13representatives Prof Dr Christina E. Bannier and Kazuhide Toda for election at the Annual 14General Meeting as successors to the shareholder representatives Annabelle Bexiga and 15Minoru Kimura who were no longer available for another term. We also dealt in depth with 16ongoing investigations based on a detailed overview provided by the Adhoc Committee. In 17deep dive sessions, we addressed our strategy, sustainability initiatives and dealt with other 18internal projects. Furthermore, the Executive Board reported on overall business development 19and strategic initiatives. 20The Supervisory Board met for the first time in its new composition at a constituent meeting 21on 22 June 2023, following the election of shareholder representatives at the Annual General 22Meeting on 15 June 2023 as well as the election of employee representatives on 21 June 2023. 23The Supervisory Board unanimously elected me as Chairman of the Supervisory Board and 24Ute Wolf as Deputy Chairwoman. Further, the new composition of the committees was 25decided. There were no changes in the composition of the Audit and Risk Committee. There 26were also only minor adjustments to the other committees: Prof Christina E. Bannier replaced 27the previous member Annabelle Bexiga on the Remuneration Committee, Angela Meurer took 28the place of Said Zanjani on the Nomination Committee and Erwin Stengele took over Said 29Zanjani's previous position on the Adhoc Committee. 30On 19 July 2023, we dealt with a debrief on the course and main topics of the Annual General 31Meeting. The review of the Interim Report 2023 was another part of our meeting and we dealt 32with business development and the firm’s outlook for the second half of the year. The Adhoc 33Committee provided detailed information on the ESG matters. Furthermore, the Nomination 34Committee reported on the search for a new Chairperson of the Supervisory Board. In deep 35dive sessions, we also reviewed internal projects in detail with a focus on our multi-year 36transformation program. We discussed the agenda for the upcoming strategy meeting of the 37Supervisory Board and there was a report on the ESG strategy of the company. The Executive 38Board provided a status report on their strategic initiatives, discussed the developments of 39the business in the Americas and provided an economic outlook. Moreover, there was a 40report on organisational changes below the Executive Board.41At an extraordinary meeting on 3 August 2023, the Supervisory Board was informed that 42Dr Markus Kobler had been appointed as the new CFO and successor to Claire Peel by 43resolution of the shareholders’ meeting of the General Partner (with effect from 1 November 442023). Both Claire Peel’s resignation as well as the appointment of Dr Markus Kobler took 45place in compliance with all relevant reporting obligations. The Supervisory Board also 46discussed other internal topics.47On 12 and 13 September 2023, we held our annual strategy offsite with the participation of 48the Executive Board as well as representatives of the extended leadership team. Under the 49leadership of Dr Stefan Hoops, the Executive Board had reviewed the company’s strategic 50alignment and presented it as part of a Capital Market Day in December 2022. We looked 51back together at the strategic milestones that had already been achieved and discussed 52individual adjustments of initiatives, for instance in response to the changing market 53environment and trends, as well as investments in new growth areas. We analysed priorities 54for forward-looking strategic initiatives that address the challenges of the dynamic market 55and regulatory environment. In this regard, we discussed trends, risks and opportunities as 56well as financial and non-financial objectives in detail and identified focus topics together 57with the Executive Board. These included the positive performance culture within DWS, the 58sustainability strategy and its implementation, and the company's data strategy. We also 59highlighted our strategies in Asia Pacific and in the Americas. Another key focus of the 60meeting was the discussion of the impact on and measures for our IT and our multi-year 61transformation program, which resulted from an internal audit report. At our intensive 62workshop, we agreed on 13 follow-up actions, which are since being implemented by the 63Executive Board. We are kept regularly updated on the status of implementation. 64At our meeting on 19 October 2023, the Supervisory Board was informed on the status of the 65ESG matter by the Adhoc Committee and further internal matters. The Nomination 66Committee informed the Supervisory Board about the progress in the search for a new 67Chairperson of the Supervisory Board. We dealt intensively with our multi-year transformation 68program and discussed the future direction of the project. The Supervisory Board also dealt 69with the sustainability strategy, one of the core topics of the strategy meeting. The Executive 70Board further reported on the overall business development and on the status updates of 71strategic and transformational initiatives.72At an extraordinary meeting on 3 November 2023, the Supervisory Board decided, on 73recommendation by the Nomination Committee, to propose Oliver Behrens for election as 74         75To our 76Shareholders77Summarised 78Management Report79Consolidated 80Financial Statements81Compensation 82Report83Corporate Govern-84ance Statement85Supplementary 86Information DWS 2023 Annual Report87 88Report of the Supervisory Board89VII