The Supervisory Board does not participate in the management of the Company. The Supervisory Board represents the Company only in its relations with the Management Board.
The Supervisory Board consists of 3 (three) to 7 (seven) members. The number and members of the Supervisory Board are determined by the General Shareholders' Meeting.
At least 1/3 (one third) of the members of the Supervisory Board of the Company are independent persons within the meaning of Art. 116a Para. 2 of the Public Offering of Securities Act.
The term of office of the Supervisory Board is five years.
The members of the Supervisory Board may be dismissed before the expiration of the term for which they have been elected.
The members of the Supervisory Board may be re-elected without restrictions. The Supervisory Board adopts Rules of Procedure for their activity and elects a Chairman and a Deputy Chairman from among its members.
Decisions of the Supervisory Board
The Supervisory Board may take decisions if more than half of its members are present at the meeting, personally or represented with written authorisations from another member of the Board.
Decisions are taken by a simple majority of the members of the Supervisory Board present, unless otherwise required by law or the Articles of Association.
The Supervisory Board may also take decisions in absentia if all members have agreed in writing to the decision.