Management Report Outlook Corporate Legal Structure and Organization 
Innovative ideas, product development and therapies with a high level of quality will continue to be the basis for market-leading products in the future.
CORPORATE LEGAL STRUCTURE AND ORGANIZATION
Fresenius completed its conversion from a public limited company incorporated under German law (Aktiengesellschaft) into a Societas Europaea (SE) in 2007. No further change in the Company’s legal form is planned in the foreseeable future.
As of January 1, 2008, the Fresenius Group is divided into four business segments, each of which is a legally independent entity. The business segments are organized on a regional and decentralized basis to provide the greatest flexibility for meeting the demands of the respective markets. The “entrepreneur in the enterprise” principle, with its clearly defined responsibilities, has proven itself over many years. We will continue to follow this principle.
PLANNED CHANGES IN HUMAN RESOURCES AND THE SOCIAL AREA
The number of employees in the Group will continue to rise in the future as a result of strong organic expansion, but growth in employee numbers will be held below the expected rate of organic sales growth. The regional distribution of our employees will not change significantly – just under 50% will be located in Europe, about 35% in North America, and the remaining 15%in Asia-Pacific, Latin America, and Africa.
DIVIDEND
Continuity in our dividend policy remains an important priority, clearly demonstrated by steady dividend increases over the last 14 years. We want to remain true to this policy in the 2008 fiscal year and offer our shareholders a dividend in line with our positive earnings forecasts.
