Thursday, 18th December 2008, Velenje, Slovenia
The 22nd Supervisory Board Meeting of Gorenje, d.d.
The Supervisory Board of Gorenje, d.d., at its 22nd Meeting held on 18 December 2008 discussed and adopted the business plan of Gorenje, d.d., and the Gorenje Group for the year 2009. and was also informed with measures, implementing in Gorenje to easing the crisis.
The Supervisory Board has estimated, that the business performance of Gorenje in the year 2008 was, regarding to the unforeseen financial crisis and the recession on the global markets, good. The Management Board response on the signals of the economy growth lessening marked as quick and adequate. They positive appraised the open communication with the public regarding the worsening conditions of the sales of the household appliances, as regards to the activities and orientations of the Gorenje Management for annulling the negative effects. The Supervisory Board is supporting the implementation of all the measures, accepted by the Management Board to soften the consequences of the unplanned negative business factors. Considering uncertain conditions in the household appliances industry, the Supervisory Board has estimated the business plan for the year 2009 as adequate and in the same time easily adapted to various possible scenarios, what is in these turbulent times of great importance and enables quick response on the changed business conditions.
Regards to the changed conditions has the Supervisory Board, based upon the Management Board proposal, decided to decrease the salary of the president and of the members of the management Board by 10 %, for the year 2009. The Supervisory Board has obligated, in case of unchanged conditions or in case if they will not be at least the same as in the first half of the year 2008, to propose that the Remunerations for the Supervisory Board from the profit will not be payout.
The public announcement of the estimation of the business performance for the year 2008 and for the business plan for the year 2009 will be published tomorrow, on the 19th of December 2009 in the afternoon, or after the press conference, at 11:00 a.m., and in the meantime the temporary trading halt is foreseen till the end of the trading day i.e. till 13:00 p.m..
The Supervisory Board has in accordance with the changes of the Companies Act appointed also an audit committee, namely: Mr. Milan Podpečan, president and the members Mr. Peter Ješovnik, Mr. Gregor Sluga and Mr. Drago Krenker, all the Supervisory Board members of the Company, and Mrs. Mateja Vrankar, expert in auditing and authorized auditor. Mandate of an audit committee is to be till the end of the term of office of the Supervisory Board of the Company, i.e. on the 18th of July 2010.
Gorenje, d.d.
The Supervisory Board and the Management Board