Corporate Governance at Adidas-Salomon
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Case Details:
Case Code : CGOX010
Case Length : 11 Pages
Period : 2002-2004
Pub Date : 2004
Teaching Note :Not Available
Organization : Adidas-Salomon
Industry : Sporting Goods
Countries : USA
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts
Corporate Governance Overview
In 2001, adidas developed the "adidas-Salomon Corporate Governance Principles"(ASCGPs). These principles documented the company's commitment to strengthening the rights of shareholders, to upholding true and fair transparency and reporting standards as well as making the composition, responsibilities and functioning of the Executive Board and Supervisory Board (EB&SB) more transparent...
Shareholders' Rights
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adidas's shareholders exercised their rights at the Annual General Meeting (AGM) according to the "one share – one vote – one dividend" principle. They ratified the actions of the EB&SB as well as the appropriation of retained earnings...
Supervisory Board
The Supervisory Board (SB) consisted of 12 members who were diverse in their professional background and nationalities. Six members were elected by the shareholders at the AGM and six members were elected by the employees pursuant to the German Co-Determination Act (MitBestG)...
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Supervisory Board Committees
In order to increase the efficiency of its work and handle complex issues better, the SB of adidas had established three committees:
• The General Committee, which dealt with EB personnel matters...
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Executive Board
The EB consisted of seven members who reflected the diversity and the international nature of the Group. The EB developed and implemented corporate strategy and guaranteed appropriate risk management and risk control within the Group...
Cooperation between the Boards
An important component of good corporate governance was open dialog and constant cooperation between the EB&SB. By tradition, EB&SB had maintained a constructive and efficient working relationship in the best interests of the Group... |
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