During the business year 2018/19, the Supervisory Board fulfilled its responsibilities under the law and the Articles of Incorporation, holding seven plenary sessions, four Audit Committee meetings, and eight General Committee meetings. In addition to these regular reports on the Group’s current business and financial position—particularly, its Strategy 2025—the meetings of the Supervisory Board dealt with the core elements of the voestalpine Group’s digital transformation as well as with matters involving innovation and information technology. Moreover, both the General Committee and the Supervisory Board dealt intensively during the reporting period with the succession of the current Chairman of the Management Board, Dr. Wolfgang Eder. This process led to the appointment at the Supervisory Board meeting on June 5, 2018, of Dipl.-Ing. Herbert Eibensteiner as the new chairman of the Management Board effective July 3, 2019. Up to now, Mr. Eibensteiner has been the member of the Management Board responsible for the Steel Division. At the Supervisory Board meeting on December 18, 2018, Dipl.-Ing. Hubert Zajicek was appointed his successor as the member of the Management Board responsible for the Steel Division. In particular, the Audit Committee dealt with the preparation and review of the approval of the company’s Consolidated Financial Statements and the individual financial statements; the review of the auditor’s independence; the selection process for a new auditor as well as topics related to the internal control system, the risk management system, and Internal Audit.
The auditor, Grant Thornton Unitreu GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Vienna, attended three of the four meetings of the Audit Committee and was available for questions and discussions.
At the last meeting of the business year on March 21, 2019, the Supervisory Board also carried out the self-evaluation required under Rule 36 of the Corporate Governance Code and, after asking the Management Board to leave the room, used a list of questions to address the general cooperation between Management Board and Supervisory Board, the quality and scope of the documents made available to the Supervisory Board as well as organizational issues.